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#2158874 - 01/02/18 11:19 AM FFIEC Average Prime Offer Rates Table
LaLendingLady Offline
Junior Member

Registered: 04/21/14
Posts: 33
Does anyone know if we are to use the new rate spread calculator hyperlink on the FFIEC website to obtain the weekly average prime offer rates? The old hyperlink does not have the rates to use for this week but the new one does. I've seen no notification that they will now be available using the new hyperlink.

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HOEPA and Homeowner Counseling Rule
#2158876 - 01/02/18 11:25 AM Re: FFIEC Average Prime Offer Rates Table [Re: LaLendingLady]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 66870
Loc: Galveston, TX
For loans with a disposition date in 2018, the FFIEC is no longer in the rate spread business. The CFPB site should be used.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2158877 - 01/02/18 11:38 AM Re: FFIEC Average Prime Offer Rates Table [Re: rlcarey]
LaLendingLady Offline
Junior Member

Registered: 04/21/14
Posts: 33
Thanks! Is there an official notification some where? I missed it.

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#2158879 - 01/02/18 11:47 AM Re: FFIEC Average Prime Offer Rates Table [Re: LaLendingLady]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 66870
Loc: Galveston, TX
It is right on the FFIEC site:

To calculate rate spreads for HMDA reportable loans, use a different calculator depending on the final action date:

•Use the new calculator available on the CFPB website if final action was taken on or after January 1, 2018.

You will not be able to use the old FFIEC one as they are no longer going to update it.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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