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Is there a new basis interest rate which mortgagees may assess when completing a Loan Modification?

April 26, 2017assess basis completing Interest rate loan modification mortgagees

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Is there a new basis interest rate which mortgagees may assess when completing a Loan Modification?

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Yes, Mortgagee Letter 2008-21 states that the new basis interest rate is 200 points above the monthly average yield on U.S. Treasury Securities, adjusted to a constant maturity of 10 years.

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Yes, Mortgagee Letter 2008-21 (HUD) states that the new basis interest rate is 2% (margin) points above the monthly average yield on U.S. Treasury Securities, adjusted to a constant maturity of 10 years (index.