What is the ARM index rate history?
This part of the documentation discusses what the index rate history of an Adjustable Rate Mortgage (ARM) loan is.
Applied Business Software compiles historical values for the most widely used indexes for Adjustable Rate Mortgage loans. These historical index values are regularly updated and offered to our customers for download from within The Mortgage Office®.
Most adjustable rate mortgages tie their interest rate changes to changes in an "index rate" and as the index rate moves up or down, so does the interest rate of the loan. Therefore, it is of upmost importance that accurate and up-to-date rate history information is entered for all active indexes. The Mortgage Office® makes it easy to track, view, and manage index rate history for adjustable rate mortgages.
CAUTION: Applied Business Software makes every reasonable effort to present complete, accurate information, but assumes no liability for errors or omissions.
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