International SF Weekly: Data Addendum: More talk than action

Research evidence excerpt

International SF Weekly: Data Addendum: More talk than action

Exhibit 60: Most commonly used acronyms in structured finance

ABS/RMBS/CMBS/CLO acronyms

Acronym Spelling Acronym Spelling

ERV Estimated Rental Value SA Servicer Advance

FCF Front cash flow SASB Single asset/single borrower

FCLR Foreclosure SEV Severity

FI Fixed Income SH Student Housing

FRM Fixed rate mortgages SME Small and medium enterprise

FTB First-time buyer (EMEA/APAC) SOFR Secured Overnight Financing Rate

GDP Gross domestic product SONIA Sterling overnight interbank average rate

GLA Gross Leasing Area SPE Special purpose entity

GSA Green Street Advisors SR OC Senior overcollateralization

HPCF Highly predictable cash flow (UK) SRT Significant Risk Transfer

HT Hotel SS Special Servicing

HY High Yield TI Tenant Improvements

IAA Internal Assessment Approach TLA Term loan A

IBR Income based repayment TLB Term loan B

IC Interest coverage UW Underwriting/Underwritten

ID Interest diversion VT Voluntary Termination (auto loan by borrower)

IDR Income driven repayment WA Weighted average

IG Investment grade WAC Weighted average coupon

iLTV Indexed LTV WAL Weighted average life

IN Industrial WALA Weighted average loan age

IO Interest-only mortgages or tranches WAM Weighted Average Maturity

IPO Initial public offering WAP Weighted average price

IRBA Internal rating Based Approach WARF Weighted average rating factor

IRR Internal rate of return WARR Weighted average recovery rate

JR OC Junior overcollateralization WAS Weighted average spread

L/O Lockout WAVG Weighted average

LBO Leveraged buyout WBS Whole business securitisation

LCF Last cash flow WL Watchlist

LGD Loss Given Default WoW Week over Week

LIBOR London Interbank Offered Rate YM Yield maintenance

LLI Leveraged loan index YoY Year over Year