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Specialty List
Convert Adjustable Rate Mortagage
Target homeowners with a current ARM (Adjustable Rate Mortgage). The combination of First Change Date and Origination Date determines the type of ARM loan (2/28, 3/27, 5/25, etc.). Furthermore, First Change Date and Interest Rate Change Frequency (Monthly, Quarterly, Annually) determine the possible Next Change Date.
Based on market conditions, these homeowners are prime candidates to convert to a fixed-rate loan.
Sound complicated? Don't worry, we took the guess work out of selecting the right combination of criteria off of the Adjustable Rate Rider document and provide three easy ways to search for loans ready to hit their first or subsequent adjustment date.
There is much more data available off of the rate rider. For example, a ListSource user can specify an Interest Rate Index Type or a Prepay Penalty Expiration Date and incorporate them into the any of the ARM searches.
Sample Output & Select Fields
Field Name
Length
|
Interest Rate Change Date |
10 |
|
Mortgage Amount |
13 |
|
Mortgage Origination Date |
10 |
|
Combined LTV Ratio |
3 |
|
Prepayment Penalty Indicator |
1 |
|
Property Type |
30 |
Data Stats
> Updated daily
> 90% of the U.S. population
> More than 2,080 counties
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