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#1367812 - 04/01/10 02:57 PM Adjustable Rate Riders
1995Banker Offline
100 Club
Joined: Apr 2002
Posts: 241
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!
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Just when I think I understand....I regain consciousness!!!

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#1456330 - 10/18/10 06:25 PM Re: Adjustable Rate Riders 1995Banker
Live 2 Comply Offline
Gold Star
Live 2 Comply
Joined: Sep 2009
Posts: 341
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.

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