------------------------------------------ IMPLIED MORTGAGE PREPAYMENT RATE Ver. 1.0 (c) Copyright Peter L. Fishback 1991 Part of the T-MAPP Software Package ------------------------------------------ Peter L. Fishback P.O. Box 635 Vienna, VA 22183 The IMPLIED MORTGAGE PREPAYMENT RATE program is copyrighted; however, you may make unmodified copies of the IMPLIED MORTGAGE PREPAYMENT RATE program and documentation for your own use. Complete documentation, including source BASIC code, is available for registered users of this program. Registered users may modify the source code for their own personal use. License Agreement You have a non-transferable, non-exclusive license for the IMPLIED MORTGAGE PREPAYMENT RATE program, subject to the terms and conditions of this License Agreement. As a non- registered user you may not modify, or alter the program in any manner, or combine it with other programs. The program and its documentation are copyrighted; however you may make archival copies of the program for your personal use. The program is provided "as is" without warranty of any kind, whether express or implied, including (but not limited to), any implied warranties of merchantability or fitness for a particular purpose. Peter L. Fishback does not warrant that the functions contained in the program will meet the user's requirements or that the operation of the program will be uninterrupted or error free. The entire risk as to the 1 quality and performance of the program is with the user. Should the program prove defective, the user assumes the entire cost of all necessary servicing, repair, or correction. In no event will Peter L. Fishback be liable to the user for any damages, including any lost profits, lost savings, damages to other software or data, or other direct, incidental, or consequential damages arising out of the use or inability to use the program. If the user transfers possession of any copy, modification, or merged portion of the program to another party without the express written consent of Peter L. Fishback, then the user's license is automatically terminated. Program Description The program consists of the following files: a.bat Startup batch file startup.doc Initial screen display nnnnnnnn.exe One or more program files Also provided are the following informational files: programs.lst Description of all programs available in the T-MAPP program package (29 programs). readme.fil File containing this material. The program files were written in BASIC and compiled with BASIC 7.0 PDS (c) Copyright Microsoft Corporation 1982-1989. The program will run under MS-DOS and PC-DOS, Versions 2.0 or later. MS-DOS is a registered trademark of the Microsoft Corporation. PC-DOS is a registered trademark of the International Business Machines Corporation. 2 IMPLIED MORTGAGE PREPAYMENT RATE This program calculates the prepayment rate for a pool of mortgage loans necessary to produce a targeted yield to maturity. The program uses a constant annualized prepayment rate loan payoff model with the prepayment rate applied to the beginning of the year loan balance. To speed program operation loan prepayments occur at the end of each year. * Program operation is commenced by * * * * entering A then . * When in data input field mode Ctrl-C will terminate the program. In other modes Ctrl-Break will terminate the program. In most cases you may return to previous input screens with the or PgDn key. DATA INPUT FORM Principal Balance: $ _ , _ _ _ , _ _ _ , _ _ _ Stated Interest Rate: _ _ . _ _ _ % Remaining Life in Months: _ _ _ Anticipated Yield: _ _ ._ _ %, Price Paid: $ _ , _ _ _ , _ _ _ , _ _ _ . _ _ 3 Registration To become a registered user of this program, complete the registration form, and send it along with a check for $10 (add $1 for a total of $11 if you also want 3.5" disks) payable to Peter L. Fishback, to: Peter L. Fishback P.O. Box 635 Vienna, Virginia 22183 1. Registered user program files support color display (CGA, EGA, and VGA). 2. Registered users will receive one or more, double sided, double density disks containing the following files: a.bat Startup batch file. m.bat Startup batch file for the 80x87 coprocessor program version. startup.doc Initial screen display. nnnntm70.exe Program files. nnnnmp70.exe Program file for computers with 80x87 math coprocessors. nnnnnnnn.bas One or more BASIC source code files, ASCII format. The code is designed for compilation with QuickBASIC, Ver. 4.0 and BASIC 7.0 PDS. IRR computation performed by Microsoft's proprietary financial functions library file, FINANCxR.LIB. irrmonth.bas BASIC code for calculating an internal rate of return, monthly payments. Includes error or range limitation check. manual.doc Printer ready, ASCII text file containing documentation for the program. Documentation typically consists of an explanation of the program's workings, a description of data input and output, a data input sheet, and sample applications to illustrate how the program works. 3. Registered users will receive notification of all revisions to the program (to download executable program files), for three years. Registered users may order new registered user's disks for $3.00. 4. Registered users are licensed to modify the source code for their own use. 4 REGISTRATION FORM IMPLIED MORTGAGE PREPAYMENT RATE Date __________________ Name ______________________________________ Address ______________________________________ ______________________________________ Circle Disk Size: 5.25" 3.5" From which BBS / Shareware Group did you obtain this program? _______________________________________________________ ......................................................................... Note: For other available programs, read the programs.lst file. Single program registration fees paid may be applied to the program package registration fee of $125 ($140 for 3.5" disks). There are currently 29 programs available.