Call Us: 800-836-8240 FIXED INCOME RETIREMENT PLANNING OTHER SERVICES Glossary A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z Accrued interest. Interest earned on a security since the date of issue or the last coupon payment or payment date. Adjustable-rate mortgage (ARM). A mortgage loan on which interest rates are adjusted at regular intervals according to predetermined criteria. An ARM’s interest rate is tied to an objective, published interest rate index. Advance refunding. A financing structure under which new bonds are issued to repay an outstanding bond issue prior to its first call date. Generally, the proceeds of the new issue are invested in government securities, which are placed in escrow. The interest and principal repayments on these securities are then used to repay the old issue, usually on the first call date. Amortization. Liquidation of a debt through installment payments. Average life. The average amount of time that will elapse from the date of an MBS purchase until the principal is repaid based on an assumed prepayment forecast. Alternatively, average life is the average amount of time a dollar of principal is invested in an MBS pool. Share on Social Media: Free Offers & Services Bond Inventory VIEW OUR INVENTORY Market Outlook Request your Free Market Outlook today! Learn More Bond Guide Get a Free Bond Guide today! Learn More Home About H&W Tax Free Municipal Bonds Portfolio Management Other Financial Services Clients Account Login H&W Trending Careers Contact Us Forms & Agreements Security Center Business Continuity Order Routing Form CRS Do Not Call Registry SIPC & Excess Protection Privacy Policy Site Map Headquarters: Hennion & Walsh, Inc. 2001 Route 46 Waterview Plaza Parsippany, NJ 07054 Florida Office: Hennion & Walsh, Inc. 777 Yamato Road Boca Colonnade I Suite 500 Boca Raton, FL 33431 Get Connected: © 2021 Hennion&Walsh, All Rights Reserved // Securities offered through Hennion & Walsh Inc. member of FINRA, SIPC.

Call Us: 800-836-8240 FIXED INCOME RETIREMENT PLANNING OTHER SERVICES Seminars Information about upcoming seminars coming soon. Share on Social Media: Free Offers & Services Bond Inventory VIEW OUR INVENTORY Market Outlook Request your Free Market Outlook today! Learn More Bond Guide Get a Free Bond Guide today! Learn More Home About H&W Tax Free Municipal Bonds Portfolio Management Other Financial Services Clients Account Login H&W Trending Careers Contact Us Forms & Agreements Security Center Business Continuity Order Routing Form CRS Do Not Call Registry SIPC & Excess Protection Privacy Policy Site Map Headquarters: Hennion & Walsh, Inc. 2001 Route 46 Waterview Plaza Parsippany, NJ 07054 Florida Office: Hennion & Walsh, Inc. 777 Yamato Road Boca Colonnade I Suite 500 Boca Raton, FL 33431 Get Connected: © 2021 Hennion&Walsh, All Rights Reserved // Securities offered through Hennion & Walsh Inc. member of FINRA, SIPC.