The number of percentage points the lender adds to or subtracts from the index rate to determine the interest rate adjustments. The margin is constant throughout the life of the mortgage and is specified in the promissory note.
This schedule provides general information on common non-state specific costs that could be associated with a mortgage loan account. It is not a complete list of all costs that could be assessed to such an account. This schedule is provided for informational purposes only.
The frequency of the costs will depend on how often services are requested or required, your payment status and both investor and legal requirements.
Default costs follow state and local requirements as well as investor and insurer guidelines which often vary based on loan type, outstanding balance, payment status as well as property location, size and condition.
Default and Bankruptcy costs reflect the amount of the invoice paid to third party vendors for a service performed. No representation or warranty is made in regard to the services provided or the effectiveness of any treatment or remediation action which may be taken.
The number of percentage points the lender adds to or subtracts from the index rate to determine the interest rate adjustments. The margin is constant throughout the life of the mortgage and is specified in the promissory note.