A prepayment is when a borrower repays a loan early, in part or in full. A partial prepayment is also called a curtailment, because continued regular payments cause the loan to pay off early. Prepayments in full often result from refinancing or selling the asset. For lenders, because loans are often acquired at a premium (or incur significant origination expenditures), prepayment speed directly affects yield. LoanStreet Analytics tracks prepayment speeds across loans and pools, with total return analysis that shows how prepayments affect yield.