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fluctuant. adjective. 1  Subject to change or variation: variable: fluctuant oil prices. 2  Medicine Capable of being moved or compressed. 3  Used of an abnormal mass such as a tumor or abscess.4  Moving in waves.djective. 1  Subject to change or variation: variable: fluctuant oil prices. 2  Medicine Capable of being moved or compressed. 3  Moving in waves.
The investor in a Pass Through transaction acquire the receivables subject to all their fluctuation, prepayments etc. the material risks and rewards in the asset portfolio, such as the risk of interest rate variations, risk of prepayment etc., transferred to the investor.