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#879157 - 12/27/07 04:55 PM Rate Spread
donna.raisor Offline
Platinum Poster
Joined: Sep 2004
Posts: 554
This may appear to be a dumb question but here goes, my loan is a true refinance under HMDA definition but it is a fix rate so is my rate spread going to be NA?

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#879177 - 12/27/07 05:05 PM Re: Rate Spread donna.raisor
hmdagal Offline
Power Poster
hmdagal
Joined: Dec 2002
Posts: 3,817
You need to do the rate spread calculation.

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#879183 - 12/27/07 05:08 PM Re: Rate Spread donna.raisor
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,762
Bloomington, IN
Not necessarily. If if the APR at consummation, whether an ARM or a fixed rate, is more than 3 percentage points (5 if a subordinate lien) above the comparable treasury security for the term of the loan then you have to enter the spread. Assuming your loan is a loan subject to Reg. Z, otherwise the spread would be reported as NA.
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