average life

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Average life

Also referred to as the weighted-average life (WAL). The average number of years that each dollar of unpaid principal due on the mortgage remains outstanding. Average life is computed as the weighted-average time to the receipt of all future cash flows, using as the weights the dollar amounts of the principal paydowns.

Weighted Average Life

The amount of time for the principal on a loan or a mortgage to be paid off. The length of the weighted average life depends on the amount of principal paydowns and how often they are made. Once the WAL is calculated, one can determine how long it will take to pay off half of the remaining principal.

average life

See half-life.
References in periodicals archive ?
There are certain cases where life should definitely mean life and if it doesn't mean life there would be people in this country who would rightly think the criminal justice system was not producing punishments which fit the crime,' he said.
Treatment with 65 [micro]g/mL PC extended the mean life span of wild-type N2 and FEM-1 worms by 12.
Mr Justice Teare added: "The trial judge said that the applicant's sentence of life imprisonment must mean life and that if he ever were released from prison it should only be on account of great age or infirmity.
Life should either mean life or a sentence of an average quarter of a life, which would be a minimum of 25 years.
According to Ministry of Justice figures, the prostitute killer's sentence today means there are now 36 living prisoners for whom life will mean life.
Surely life should mean life - it is no wonder killings and muggings continue when the criminal knows they are going to get such a short sentence.
But David Hines, founder of the North of England Victims' Association, told a conference yesterday that many families wanted life to mean life.
So when a life sentence is given it should mean life, or when they do get released after a visit to prison, let them live next door to the do-gooders.
The father of Craig Sweeney's victim said: "If ever there was a crime where life should mean life then this is it.
And now a rule that can mean life or death for those who must observe it has been made more strict, not on the basis of fact, but in an act of political pandering.
Child killer Hindley, aged 56, is challenging decisions by two Home Secretaries that, in her case, a life sentence must mean life.