Manufactured-Housing Prepayment Curve (MHP)

Used to denote prepayments on manufactured housing, this prepayment scale has a 24-month seasoning ramp. 100% MHP equals a starting rate of 3.7% CPR, stepping up 0.1% per month, until the 24^thmonth where it remains constant at 6% CPR. Similar to PSA, MHP is used in multiples of 100 so that 150% MHP equates to 5.6% prepayment in the first month, leveling off to 9% in month 24.