Cohort

Vintage Analysis means the Default Cohort Ratio calculated at the end of each Month On Book for a Cohort Pool. Snapshot of the Default Cohort Ratio is updated on a monthly basis to track the life of the cohort.

The calculation can be adjusted to use the number of loans or volume.

Each Cohort Pool represents a one-month period.

Roll Rates mean how a loan moves from one Delinquency Bucket to another after a set period of time, using Month On Book for time snapshots based on the Outstanding Principal Balance at the time of the snapshot.

Roll Rates by Cohort means the proportion of Outstanding Principal Balance or a number of loans in each Delinquency Bucket, for a monthly Cohort Pool tracked based on Months on Book.