Cost-of-Savings Index (COSI)
Definition of "Cost-of-Savings Index (COSI)"
One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage.
Popular Mortgage Terms
Equations used to derive common measures used in the mortgage market, such as monthly payment, balance, and APR. ...
One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage. ...
On an ARM, the assumption that the interest rate rises to the maximum extent permitted by the loan contract. ...
The specific interest rate series to which the interest rate on an ARM is tied, such as 'Treasury Constant Maturities, One-Year,' or 'Eleventh District Cost of Funds.' ...
The dollar amount of interest paid each month. The interest payment is the same as interest due so long as the scheduled mortgage payment is equal to or greater than the interest due. ...
The ratio of housing expense to borrower income. This ratio is one factor used in qualifying borrowers. ...
Acceleration Clause is a contractual provision inserted in a mortgage, a bond, a deed of trust or other credit vehicles, that gives the lender the right to demand repayment of the ...
The assumption that the index value to which the interest rate on an ARM is tied follows the same pattern as in some prior historical period. In meeting their disclosure obligations in ...
A loan eligible for purchase by the two major federal agencies that buy mortgages, Fannie Mae and Freddie Mac. Conforming mortgages cannot exceed a legal maximum amount, which was $322,700 ...
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