CMO RESIDUAL is the residual is the cash flow remaining on each payment date after all payments on the CMO tranches have been made. The primary source of the residual is cash generated by the collateral that is greater than the payments due on the CMO tranches.
DISCRETIONARY INCOME means the amount of a companys income available for spending after the essentials have been met. See DISPOSABLE INCOME.
FIXED BUDGET is a budget that is not adjusted for changes in the volume of service. See FLEXIBLE BUDGET.
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