The amount of time over which a Set of Notes is repaid depends fully on the payment schedules of the underlying loans. When speaking about a Set of Notes as a whole, we use three different terms to refer to its maturity – initial maturity date, expected maturity date, and remaining term.
The initial maturity date of a Set of Notes is the date on which the longest underlying loan is initially scheduled to be fully repaid, and can be found on the Set of Notes details page. It is a fixed date that does not change.
The expected maturity date of a Set of Notes is initially the same date as the initial maturity date. If the schedule of an underlying loan is extended, the expected maturity date is extended accordingly, and can be found on the Set of Notes details page.
The remaining term of a Set of Notes is the number of months and days left until the expected maturity date and can be found on the Portfolio, Primary Market and Secondary Market pages.