Skip to content
GeoDataVision
Learn More - Click Here!

New Reply Thread Options
#1843682 - 08/19/13 05:43 PM APR/win
Anonymous
Unregistered

I am struggling with APRwin for an adjustable rate loan, can anybody give me guidance on this?

Return to Top Reply Quote Quick Reply Quick Quote
#1843701 - 08/19/13 06:41 PM Re: APR/win Anonymous
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,084
Toano, VA
What's the problem?
_________________________
...gone fishing.

Return to Top Reply Quote Quick Reply Quick Quote
#1843705 - 08/19/13 06:53 PM Re: APR/win Anonymous
Anonymous
Unregistered

Its a 3/3 arm with a 10 year amortization, most of what i see is 30 year and i am having trouble with the payment streams, it is constantly understating the APR.

Return to Top Reply Quote Quick Reply Quick Quote
#1843751 - 08/19/13 08:03 PM Re: APR/win Anonymous
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,084
Toano, VA
Are you using the payment schedule that is disclosed according to Section 1026.18(s) or 18(g)?
Did you recheck the payment schedule according to the method spelled out in the Official Interpretations of Section 1026.17(c)(1),Comment #10?
_________________________
...gone fishing.

Return to Top Reply Quote Quick Reply Quick Quote
#1843806 - 08/19/13 08:52 PM Re: APR/win Anonymous
Anonymous
Unregistered

Yes I have.

Return to Top Reply Quote Quick Reply Quick Quote
#1843838 - 08/19/13 09:19 PM Re: APR/win Anonymous
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,084
Toano, VA
Which payment schedule are you loading into APRWIN: 18(s) or 18(g)?
_________________________
...gone fishing.

Return to Top Reply Quote Quick Reply Quick Quote
#1843976 - 08/20/13 02:16 PM Re: APR/win Anonymous
Anonymous
Unregistered

18(g)

Return to Top Reply Quote Quick Reply Quick Quote
#1844106 - 08/20/13 04:36 PM Re: APR/win Anonymous
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,084
Toano, VA
We've exhausted all the easy answers, so you'll have to post an example, including:
- ID of the index for this product
- value of the index at the time subject loan was disclosed
- margin
- note's requirements for rounding index + margin
- frequency of IR changes
- lookback provisions for IR changes
- limits on IR changes: per change, life-of-loan
- initial IR for this loan
- loan amount
- Amount Financed
- payment frequency (if not monthly)
- date of consummation
- date of first payment
- date of first IR change
- limits (if any) on payment changes
- number of payments
- if scheduled payments result in a balloon, number of payments needed to fully amortize original loan amount
- if PMI is required, provide details
- if loan is combined construction/perm, provide details
_________________________
...gone fishing.

Return to Top Reply Quote Quick Reply Quick Quote
Quick Reply:
HTML is disabled
UBBCode is enabled




Moderator:  MagicCity, P*Q, Truffle Royale