FN DUS is one of the largest multifamily lending programs with current outstanding balance over $330 billion. Yield Book FN DUS prepayment model is a loan-level model which provides clients with a tool to study and project prepayment speeds of FN DUS loans. This paper gives an introduction of the FN DUS product features and a discussion of major model components and prepayment behavior/drivers. Performance testing is done with an empirical study of actual vs. model-projected speeds for the recent vintages.
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