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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Mortgage Servicing Rules Rate for ARM notice only available online
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#1867012 - 10/31/13 02:59 PM Rate for ARM notice only available online
SaaL Offline
Gold Star
Joined: Mar 2008
Posts: 294
The Texas Hill Country
We use a couple of FHLB balloon rates for some of our ARM's. To our knowledge the rates are not "published" in written form (like in the WSJ) anywhere. Rates are only available online. So for the ARM notice we're planning to state FHLB Website (www.fhlb.com) as the source of information. Can't find anyplace in the reg that states this is not acceptable but just a little uncomfortable with it.

Would appreciate a second opinion.
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Mortgage Servicing Rules
#1878403 - 12/13/13 02:47 PM Re: Rate for ARM notice only available online SaaL
Cowboys Fan Offline
Power Poster
Joined: Dec 2002
Posts: 4,615
SC
Bump: I was thinking of doing something similar for the T-Bill rates. Any thoughts?
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#1878416 - 12/13/13 03:02 PM Re: Rate for ARM notice only available online SaaL
GTS333 Offline
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Joined: Jun 2010
Posts: 257
I think the requirement is just to disclose a source of information about the index or formula, so if that's the source, it would appear to be correct to me.
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My opinion, take it for what its worth. Opinions expressed are my own and not those of my employer and are not legal advice.

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#1883953 - 01/07/14 08:35 PM Re: Rate for ARM notice only available online SaaL
Rangers Fan Offline
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Rangers Fan
Joined: Dec 2001
Posts: 345
What about FHLB rates for a region that doesn't post them even online in a public manner? Dallas FHLB does post them in the site referenced above but Topeka FHLB does not but only makes the rates available to its member banks after they have logged on....

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