Fully indexed rate definition
Fully indexed rate means the index rate prevailing at the
Fully indexed rate means the index rate prevailing at the time a residential mortgage loan is made, plus the margin that will apply after the expiration of an introductory interest rate.
Fully indexed rate means the index rate, as defined in the mortgage
More Definitions of Fully indexed rate
Fully indexed rate means the index rate, as defined in the mortgage loan documents, prevailing at the time the mortgage loan is approved by the lender, plus the margin that will apply after the expiration of an introductory interest rate.
Fully indexed rate means, with respect to ARMs, the rate that would be paid by the borrower ("gross") or received by the Company as owner of the Mortgage Asset ("net") if the coupon rate on the ARM were able to adjust immediately to a market rate without being subject to adjustment periods, periodic caps, or life caps. It is equal to the current yield of the ARM index plus the gross or net margin.
Fully indexed rate means the sum of the current value of the
Fully indexed rate means the index rate applicable
Fully indexed rate means the index rate prevailing at origination plus the margin* that will apply after the expiration of an introductory interest rate.
Fully indexed rate means, for any Home Loan, or a Previous Loan with a variable rate feature, the sum of a recent value of the index used under the loan documents for interest rate adjustments plus the margin used for interest rate adjustments. For a Home Loan, a recent value of the index is
Fully indexed rate means the sum of the current value of the index used for the adjustable rate mortgage and the margin disclosed in the loan agreement.