Securitization waterfall animation

ScenarioPayment month

Playback speed

Each scenario starts independently. Later months carry the previous calculated close. Selecting a month starts paused.

Interest collections: —
Principal collections: —
Delinquent principal at cutoff: —
Opening unpaid interest: —

Inspect step

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LoadingCalculating the normal payment date.

The allocation bench

MONTH 01

FIG. 01 / PAYMENT ALLOCATION

Moving indicators preview the current allocation.Reserve top mark $500k · test notch 5%

Payment ledger

USD · exact dollars

Fees and coupon payments for this payment date. Select a row to inspect its priority.
Due	Paid	Unpaid
—	—	—
—	—	—
—	—	—
—	—	—

NOTE PRINCIPALOutstanding · USD

—

Cash distributed to equity—

60+ day delinquency testTested after collections · maximum 5.00%

Not tested

Opening state

Ready to allocate

Allocation within this priority

Calculate each allocation before moving to the next priority.

Cash before: —
Allocated: —
Cash after: —

Every dollar accounted for

Opening cash + receipts—

Payments to recipients—

Cash still held—

Reconciled

Calculated monthly closes

End-of-month outcomes for this entire authored path. Select a month to inspect its opening state and allocations.

Month	Notes outstanding	Unpaid interest	Reserve	Equity this month	Release test

Compare the three original first payment dates

Independent alternatives with the same $4 million of principal receipts and opening balances. The failed-test case holds interest receipts constant to isolate the diversion.

Scenario	Interest received	Closing Class A	Unpaid interest	Closing reserve	Equity