Burnout

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Burnout

Depletion of a tax shelter's benefits. In the context of mortgage backed securities it refers to the percentage of the pool that has prepaid their mortgage.

Burnout

In a mortgage-backed security, the percentage of mortgages underlying the security that were not re-financed following a drop in interest rates. Historically, a mortgage that is not re-financed is less likely to re-finance at the next drop in interest rates. As a result, potential investors in mortgage-backed securities often look for a high burnout rate because it reduces prepayment risk, or the risk that investors will be deprived of future interest payments because too many mortgages are prepaid.
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Other activities include a unique Stunt Driving Experience where daredevil drivers can learn 'doughnuts, burn-outs and drifting' from qualified instructors on an outdoor driving course, in some of the best performance cars around.
Welding further causes undesirable fumes and burn-outs and often requires complicated electrodes and pilots that can stall production.
It also significantly reduces the potential for tracking, which has been the major cause of reduced of effectiveness and burn-outs in AC ionizing bars but the fullest information comes from Meech Static Eliminators Ltd of Burford House, 15 Thorney Leys Business Park, Witney, Oxfordshire, tel:0193 370 6700.
It added: "Mental burn-outs (slang for wheel-spins which cause tyres to burst) in the car park were ignored by the cops, but the 100mph street racing got snuffed out pretty quick.
Said Tom Orr, vice president of merchandising for window, "We had success in the market with sheers and we'll continue to build on that with printed burn-outs and other types of fabrications.
Riders can do burn-outs and fast 360-degree spins, thanks to a high-torque motor and super slick rear wheels.
Vettel was not to be denied and after it was done he ignored more team instructions and did a few burn-outs, even though it would surely incur the wrath of the FIA.
Bleachers were set up for the stunt cars, flamethrowers and burn-outs near the Johnson tunnel on Main Street yesterday afternoon and evening.
The days of going to an auction and finding just repossessions or burn-outs have gone.