What I mean by “All Variable” is that in previous spreadsheets I included options to make certain variables change throughout the term of the loan. This amortization schedule combines those options into one model. Why have I done this, you say. The answer is because it is my blog, and I can. No other reason that I can think of right now. The variables are rate, CPR, Defaults, and Loss Severity. The inputs in yellow below are self explanatory, except that each “Term (Months” must total the same number of months, or a warning appears. I put this together quickly, so if you find any errors let me know. Servicing is included, in case someone else is servicing the loans. Also there is a balloon option and an internal rate of return at a specific market rate.