Public warehouse

Public warehouse

Public warehouse

Warehouse operated by an independent warehouse company on its own premises.

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Public Securities Administration (PSA)

Public Securities Administration (PSA)

Public Securities Administration (PSA)

The trade association for primary dealers in U.S. government securities, including MBSs.

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PSA

PSA

PSA

A prepayment model based on an assumed rate of prepayment each month of the then unpaid principal balance of a pool of mortgages. PSA is used primarily to derive an implied prepayment speed of new production loans, a 100% PSA assumes a prepayment rate of 2% per month in the first month following the date of issue, increasing at 2% per month thereafter until the 30th month. Thereafter, 100% PSA is the same as 6% CPR.

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Proxy contest

Proxy contest

Proxy contest

A battle for the control of a firm in which the dissident group seeks, from the firm’s other shareholders, the right to vote those shareholder’s shares in favor of the dissident group’s slate of directors. Also called proxy fight.

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Proxy

Proxy

Proxy

Document intended to provide shareholders with information necessary to vote in an informed manner on matters to be brought up at a stockholders’ meeting. Includes information on closely held shares. Shareholders can and often do give management their proxy, representing the right and responsibility to vote their shares as specified in the proxy statement.

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Provisional call feature

Provisional call feature

Provisional call feature

A feature in a convertible issue that allows the issuer to call the issue during the non-call period if the price of the stock reaches a certain level.

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