Definitions for "pool factor"
Outstanding mortgage pool principal divided by the original principal balance, and expressed as a decimal between 0 and 1.
The current principal balance of the loans outstanding in the entire collateral pool of a transaction, divided by the original balance of such loans, expressed as a percentage.
The percent of the original principal balance that is currently outstanding. To determine what the current principal balance is, multiply the factor times the original principal balance at issuance. For example, if a $1,000,000 pool at issuance has a current factor of .9890080, the current outstanding balance would be $989,008.00 ($1,000,000 x .9890080).