Okay, we have switched from correspondent to broker and now we are confused on which rate to use for figuring our block 2 credit. For example
Interest Rate on Loan 3.75%
Base Rate Sheet Rate 2.318%
price adjs 1.875% (which consist of our
comp plan %, loan amount
credit, and program type
charge)
Net .443%
So, for a $200,000 loan, should we show in Block 2 a credit of -4,636 (using the 2.318%), or a credit of -886 (using the .443%)
Last edited by Shopgirl; 05/30/14 03:31 PM.