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In Response To:
Thread Starter: Anonymous
Title: Re: ARM Amortization Schedule Incorrect

A bank recently discovered that the amortization schedule for ARM loans were disclosed with a fixed rate and did not show the change in payments. The LOS system was correct, however the doc provider reported the amortization as one rate through the course of the payment schedule. Some of the loans are at least a year old. Does the amortization schedule need to be redisclosed and send to all ARM loan borrowers impacted?