Dynamic prepayment forecasts, those that change with the market, have been increasing in demand over the years. The Mortgage Industry Advisory Corp. (MIAC) has developed a program that can predict prepayment medians on a daily basis.

Because Wall Street dealers typically only provide prepayment models on the first and 15th of each month, if a dramatic change occurs in the market between models, traders in the industry would traditionally have to wait until the model is released to take that into account. The system, called Mortgage Industry Medians (MIMs), can estimate prepayment models on a daily basis.

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