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 ?
He told the Lord Chancellor: "Life should mean life for murder.
EVIL double killer Gary Vinter will now "rot in jail" after a legal ruling that life can mean life.
A court ruled last year that US Marine David Bieber should serve 37 years for the murder of Pc Ian Broadhurst, 34, in Leeds, on Boxing Day 2003 and not a whole life sentence Mr McKeever said: "When our colleagues are murdered, in the absence of the death penalty, life should mean life.
NORTHUMBRIA Chief Constable Mike Craik speaks for the majority when he proposes that a life sentence should, in fact, mean life imprisonment (The Journal, August 9).
Martin Kane, 45, whose daughter Laura, nine, was murdered in 1999, is leading calls for life to mean life and has collected 20,000 names on a petition with Liz Nealey, whose son Wesley, 11, was murdered in Newcastle.
An overwhelming 90 per cent also say life should mean life for murderers and terrorists.
JUST a few days after this column was suggesting that a life sentence for murderers and rapists should mean life, we have been confronted with the case of Errol Henry.
Life should mean life for any murderer - or bring back hanging, then there would be fewer thugs to keep in prison at the expense of the tax-paying public.
As was covered by many newspapers and other media recently she says that for the murder of a police officer the sentence should be life, and mean life.
LIFE will mean life for evil Philip Fraser, who was sentenced yesterday for bludgeoning and stabbing his ex-girlfriend to death in a jealous rage.
The Life Should Mean Life march will call to keep killers locked up for life.