Credit: level-pay auto pool

version 0.1
model "level-pay-pool"
use pack "credit" version "0.1.0"
time calendar monthly from 2026-01 for 126

entity fund buyer

// $25mm homogeneous level-pay pool, 6.5% note rate, 10-year amortization,
// 8 CPR, 2 CDR, 35% severity, 6-month recovery lag, 50bp servicing strip,
// 1% prepayment penalty. The contract term spans term_months +
// recovery_lag_months so recoveries have periods to land in.
contract credit.pool_level_pay.auto_a on entity fund.buyer {
  term 2026-01..2036-06
  terms {
    balance = 25000000
    rate = 0.065
    term_months = 120
    cpr = 0.08
    cdr = 0.02
    severity = 0.35
    recovery_lag_months = 6
    servicing_fee = 0.005
    prepay_penalty_rate = 0.01
  }
}

// Purchased at a 1-point discount (99.0) at close.
contract credit.purchase.auto_a on entity fund.buyer {
  term 2026-01..2026-01
  terms {
    price = 24750000
  }
}

{
  "deterministic": {
    "annual_discount_rate": 0.06
  }
}