Bankers Threads
Click to return to BOL home page

Learn more about

MEMBERS





















Have a Question?
Looking for a
Product or
Service?

Our Vendor
Advisory Board








Topic Options
#1367812 - 04/01/10 10:57 AM Adjustable Rate Riders
KYBanker1995 Offline
100 Club

Registered: 04/30/02
Posts: 206
Loc: KY
Could someone direct me to a KY statute that addresses the adjustable rate rider that is filed with a mortgage? If not, could you explain to me the purpose of the arm rider?

Thanks in advance!
_________________________
Just when I think I understand....I regain consciousness!!!

Top
#1456330 - 10/18/10 02:25 PM Re: Adjustable Rate Riders [Re: KYBanker1995]
Live 2 Comply Offline
100 Club

Registered: 09/21/09
Posts: 215
We do not use or record adjustable rate rider. We use an universal note that includes all the adjustable rate information. In the past we did, but we had some issues with clerk workers contacting us everytime they saw a person with a better rate than them. We had a lawyer check the universal note and he said it had everything that we needed in it.

Top


Moderator:  Jack/Pegasus, Ken_Pegasus