Fumbles, oversights, and omissions: bank ARM calculations
Article Abstract:
Real estate lenders often make mistakes in adjusting the interest rates of adjustable rate mortgages (ARMs), according to recent evidence, which also shows that the errors often arise from correctable and common causes. Lenders are exposed to liabilities when such mistakes favor them, while the mistakes lead to losses when they favor the borrower. Article explores how such errors can be minimized.
Publication Name: Real Estate Review
Subject: Real estate industry
ISSN: 0034-0790
Year: 1995
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The full cost of a home mortgage loan
Article Abstract:
Real estate agents can help borrowers in search of home loans compare the annual percentage rate (APR) between competing institutions by including costs usually not considered in comparisons. These costs include lost interest earnings on escrow accounts and prepayment penalties. A simple formula is offered for including these costs in the APR calculation.
Publication Name: Real Estate Review
Subject: Real estate industry
ISSN: 0034-0790
Year: 1992
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