Company: NLY-PF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036724
Chunk: 75

Company: ANNALY CAPITAL MANAGEMENT INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 75
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payment speeds related to our Agency mortgage-backed securities.PrepaymentThe unscheduled partial or complete payment of the principal amount outstanding on a mortgage loan or other debt before it is due.

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ANNALY CAPITAL MANAGEMENT, INC. AND SUBSIDIARIESItem 2. Management’s Discussion and Analysis 

Prepayment RiskThe risk that falling interest rates will lead to increased prepayments of mortgage or other loans, forcing the investor to reinvest at lower prevailing rates.Prepayment SpeedThe estimated rate at which mortgage borrowers will pay off the mortgages that underlie an MBS.Primary MarketMarket for offers or sales of new bonds by the issuer.  Prime RateThe indicative interest rate on loans that banks quote to their best commercial customers.Principal and InterestThe term used to refer to regularly scheduled payments or prepayments of principal and payments of interest on a mortgage or other security.RRate ResetThe adjustment of the interest rate on a floating-rate security according to a prescribed formula.Real Estate Investment Trust (“REIT”)A special purpose investment vehicle that provides investors with the ability to participate directly in the ownership or financing of real-estate related assets by pooling their capital to purchase and manage mortgage loans and/or income property.Recourse DebtDebt on which the economic borrower is obligated to repay the entire balance regardless of the value of the pledged collateral. By contrast, the economic borrower’s obligation to repay non-recourse debt is limited to the value of the pledged collateral. Recourse debt consists of repurchase agreements, other secured financing and U.S. Treasury securities sold, not yet purchased. Debt issued by securitization vehicles and participations issued are non-recourse to us and are excluded from this measure.Reinvestment RiskThe risk that interest income or principal repayments will have to be reinvested at lower rates in a declining rate environment.Re-Performing Loan (“RPL”)A type of loan in which payments were previously delinquent by at least 90 days but have resumed.Repurchase AgreementThe sale of securities to investors with the agreement to buy them back at a higher price after a specified time period; a form of short-term borrowing. For the party on the other end of the  transaction (buying the security and agreeing to sell in the future) it is a reverse repurchase agreement.Residential Credit SecuritiesRefers to CRT securities and non-Agency mortgage-backed securities.Residential SecuritiesRefers to Agency mortgage-backed securities, CRT securities and non-Agency mortgage-backed securities.Res