Tomorrow is our quarterly Compliance Council meeting and I want to discuss - well a lot of things - but if I have the opportunity to learn a little more about the upcoming 'Prime Market Rate' I'd like to. Does anyone have any insight - will there be just '1' rate for any term or varying rates like the current HOEPA T-Bill guidelines.

Any information will be beneficial. Thanks so much!!!

I second your request. I am getting concerned that our rates will exceed this Freddie Mac Rate Survey and we will be in the escrow business.

From what I have read in the Commentary the Fed Reserve will provide a table with the "prime offer rate" survey which "will indicate how to identify a comparable transaction". Federal Register p44535 July 30, 2008