[jimjohn]

hi guys can someone please explain waht this sentence means:

1. The FV of the Fair value book decreased $1.2MM as of Apr 21st, 2008

Does the first FV stand for Fair Value or Face Value? What is the Fair Value Book?

I don't know much about accounting, but I'm analyzing the impact of an increase in prepayment rate on the PV of mortgage-backed securities. The information I'm given is broken up into a Financial Position Impact and an Accounting Impact. The accounting impact was, as stated above: The FV of the Fair value book decreased $1.2MM as of Apr 21st, 2008
The Financial Position impact is that the PV of the Fair Value book has increased.

Can someone explain why the PV can increase in one and decrease in the other?

Thanks a lot guys, any advice would be greatly appreciated.

[dunner]

Sounds like they are talking about "Future Value" and "Present Value". Obviously, this "explanation" was not meant for the average person. I can't explain your increase/decrease issue. Sounds like there's alot more information somewhere.