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Loan and Mortgage Terms Glossary |
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Index Amortizing Note (Ians):
A note that repays principal over a period of time that lengthens or shortens according to an amortization schedule linked to a specific index, usually libor. As interest rates increase, the ian's maturity extends longer, an effect similar to what happens to a collateralized mortgage obligation when prepayment rates decrease. An ian is a type of structured note.
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