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Interest Rate Above APR on Adjustable Rate Mortgage?
May 5, 2003, revised April 8, 2004 "I?m considering a 3/1 ARM and am confused about the APR on this loan. I thought that when there were lender fees, the APR would be above the interest rate. But this 3 /1 ARM has lender fees, yet the APR is below ... more... Annual Percentage Rate Below Interest Rate on ARM? May 5, 2003 "I?m considering a 3/1 ARM and am confused about the APR on this loan. I thought that when there were lender fees, the APR would be above the interest rate. But this 3 /1 ARM has lender fees, yet the APR is below the interest rate. Is this lender making a mistake ... more... |
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calculating mortgage related definitions |
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Mortgage Baked Securities, MBS
Mortgage Baked Securities, MBS Mortgage-backed securities (MBS) are bond or other financial obligation secured by a pool of mortgage loans. Mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by purchasing entity. ... more... Mortgage Note Mortgage Note A written negotiable promise (agreement) to pay a sum of money plus interest at a set interest rate. The note is secured by a mortgage. In turn, mortgage is secured by property. Mortgage note states the amount of debt and the rate of interest, and makes the ... more... |
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