Cost Of Funds Index
Definition of "Cost of funds index"
Average of what savings institutions in the 11th district of the Federal Home Loan Bank System ( California, Arizona, and Nevada) are paying in interest to depositors and other sources of borrowed money. The index was developed in 1981 to provide a benchmark for adjustable rate mortgages. Currently, about 10 percent of the nation's mortgages are tied to the index. When the index rides, so do interest rates on millions of home mortgages.
Popular Real Estate Terms
Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or ...
Established federal, state or local structural building requirements that have to be adhered to so as to receive certification by the government authority. Housing code enforcement is ...
A wall or roof which extends beyond a lower wall. ...
What remains after something is removed, such as substances left after a pollution treatment facility is removed. ...
Document submitted to a governmental agency to extend the time period for a previously approved document. ...
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Insurance coverage to pay the balance of the mortgage if the wage earner dies. ...
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