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#2269421 - 04/20/22 07:57 PM Bona Fide Discount Points
Wonderofitall Offline
100 Club
Joined: Sep 2010
Posts: 179
Out West
Years back, a rate reduction of .25% for every 1% of discount point paid was considered acceptable in determining whether or not the discount points were bona fide.

Is the definition found in 1026.32(b)(3)(i), "based on a calculation that is consistent with established industry practices", mean that .25% for every 1% still applies or is there a new established industry practice?
You're never too old to learn something stupid.

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#2269449 - 04/21/22 01:55 PM Re: Bona Fide Discount Points Wonderofitall
rlcarey Online
10K Club
Joined: Jul 2001
Posts: 79,894
Galveston, TX
As far as I am aware there is no specific standard.
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