LMA, among others, is an acronym for Lease Management Agreement, Local Marketing Agreement or Legal Marketing Association.
OPERATING EXPENSES is all selling and general & administrative expenses. Includes depreciation, but not interest expense.
PREPAYMENT RISK, in the area of mortgage-backed securities, which are backed by loans on property, is the possibility that home owners will payoff their mortgages early, returning the investor's principal earlier than expected. This typically occurs during a declining interest rate environment, when home owners can refinance at lower rates, leaving investors vulnerable to the risk of reinvestment at lower rates.
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