Don Pistulka
Don Pistulka

Retired Credit Union CFO - Finance
Background: over 40 years in investments, asset/Liability management, banking, securities trader.
Worked for: California Credit Union, WesCorp, CalFed S&L, Crocker Bank, Carroll McEntee, Federal Home Loan Bank Board (D.C.), Western Asset Management, Security Pacific National Bank.


  1. Quick question Don. I’m relatively new to modeling out Mortgages. Could this be used to price and individual loan as well? Also, I have created a spreadsheet using backward induction on when would be an optimal time to prepay, would really love your feedback.

    1. Joe,
      The answer to using this for one loan is yes, because the example is one $10,000,000 loan.The purpose of this model is for those that might what to create their own rate, CPR, defaults, or loss severity vectors.
      Just enter all your data in row 4 if there is to be no changes at various months for the loan. Might I suggest taking a look at the post and excel sheet for pricing: Mortgage Loan Pool – Default Recovery .

      Please do send your model for optimal prepay.


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