Adjustable Rate Mortgage Review

There are few loan deficiencies or errors that wreak more havoc than an ARM not adjusting correctly. If the rate is too high, it triggers a borrower rebate with an embarrassing letter attached to it. If rate is too low, you have lost potentially thousands of dollars in interest income from each loan and each year until it is corrected.

With this review we will perform the following actions on a sampling of your ARM loans:

· Review the Note for the adjustment terms

· Review indexes and calculations used for the most recent three adjustments

· Calculate and compare the correct adjustment and the system rate adjustment.

· Provide remediation details for any incorrect rate adjustment

· If applicable provide the system updates required to ensure future adjustments are correct in accordance with the terms of the Note.

Very few Banks and Credit Unions have a perfect servicing record for rate adjustments, and more than half have error rates that require additional sampling, or even a full review of their ARM portfolio. 

Do not wait for an exam to learn you have rate adjustment issues, call, or email Steve Borgerson to discuss this consultation.

                               Email: steve@sbloanconsulting.com Call: 617-609-9747

SBorgerson Consulting LLC is a licensed and insured Massachusetts Limited Liability Corporation