Definitions for "Lookback"
The interval of time, or lag, between the date when an index value is established and the date when the payment rate and/or accrual rate is changed.
Medicaid uses the term lookback. It is a period of time beginning from the date of the Medicaid Application back. In the case of an individual, the lookback is three (3) years and in the case of a trust the lookback is five (5) years. If transfers or gifts are made during the lookback period, they are penalized.
For each mortgage in the ARM Giant PC pool, the number of days from the publication of the Index value used to adjust the note rate to the interest change date.
An option that pays out the best performance of the underlying during the life of the option.
A return based on a proportion of the highest level reached by the underlying during the term.