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Paying what is owed before it is due (usually to save interest charges).
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


1. The payment of a debt in full before it is due. Prepayment is good for the borrower because it relieves him/her of the debt, but it deprives the lender of interest he/she would have received otherwise. As a result, some lenders attach prepayment penalties to loans to disincentivize prepayments. Prepayment can me a major risk to collateralized mortgage obligations as coupon payments are based on interest received from the underlying mortgages. Less commonly, this is called anticipation. See also: Prepayment risk.

2. Payment in advance for a good or service not yet received.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Since the probability for the mutation is not fixed, which will be clearly seen, this modified algorithm is named as [ACO.sub.R] with dynamic mutation, ACODM, and its operation is detailed as follows.
The simulated results demonstrate that the DM-AIS with dynamic mutation rate give a good result effectively at a faster speed.
Zoghbi, 2000, Dynamic Mutation in SCAs Human Molecular Genetics, vol.9, No.6, 909-916

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