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 ?
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."
He told the Lord Chancellor: "Life should mean life for murder.
Home Office minister Lord Falconer of Thoroton refused to speculate on the pending legal judgment but said in some cases 'life should definitely mean life.'
So instead he says he doesn't think life should ever mean life in murder cases, and HE'LL make the decisions not the Home Secretary.
Lorna, 32, wrote: "My brother Scott Blackwood suffered horrifically by these people and life should mean life."
Rose slammed the "inconsistency" in the Irish justice system and said life should mean life. She told Ireland AM: "It's very hard for somebody who's not in a situation that we're in to wonder what you'd be like but if somebody gets life and they've taken a life, it should mean life.
Jean Taylor, founder of Families Fighting for Justice (FFJ), said that a life sentence for murderers "should mean life".
EVIL double killer Gary Vinter will now "rot in jail" after a legal ruling that life can mean life.
They said "life should mean life" for murderers like Harry Roberts and David Bieber.
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).
Life needs to mean life. A real parliament for Wales should legislate for this.
The father of Craig Sweeney's victim said: "If ever there was a crime where life should mean life then this is it.