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What interest rate type should we report if a mortgage has been set up with different interest rate types?

April 26, 2017different Interest rate mortgage report type types

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What interest rate type should we report if a mortgage has been set up with different interest rate types?

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If the mortgage is, for example, part fixed and part discounted, you should report the interest rate type that applies to the largest portion of the overall mortgage balance. If there is a 50/50 interest rate type split you can decide which interest rate to report. However, when reporting the loan size, you should report the total loan size regardless of the interest rate split.