Source: http://www.law.cornell.edu/cfr/text/12/part-1003/appendix-A
Timestamp: 2014-09-19 22:38:41
Document Index: 231424512

Matched Legal Cases: ['art 1003', 'art 1003', 'art 1003', 'art 1003', 'art 1003', '§ 1026', 'art 1026']

12 CFR Part 1003, Appendix A to Part 1003 - Form and Instructions for Completion of HMDA Loan/Application Register | LII / Legal Information Institute
CFR › Title 12 › Chapter X › Part 1003 › Appendix A 12 CFR Part 1003, Appendix A to Part 1003 - Form and Instructions for Completion of HMDA Loan/Application Register
Pt. 1003, App. A
1. Rate Spread. a. For a home-purchase loan, a refinancing, or a dwelling-secured home improvement loan that you originated, report the spread between the annual percentage rate (APR) and the average prime offer rate for a comparable transaction if the spread is equal to or greater than 1.5 percentage points for first-lien loans or 3.5 percentage points for subordinate-lien loans. To determine whether the rate spread meets this threshold, use the average prime offer rate in effect for the type of transaction as of the date the interest rate was set, and use the APR for the loan, as calculated and disclosed to the consumer under §§ 1026.6 or 1026.18, as applicable, of Regulation Z (12 CFR part 1026). Current and historic average prime offer rates are set forth in the tables published on the FFIEC's Web site (
) entitled “Average Prime Offer Rates-Fixed” and “Average Prime Offer Rates-Adjustable.” Use the most recently available average prime offer rate. “Most recently available” means the average prime offer rate set forth in the applicable table with the most recent effective date as of the date the interest rate was set. Do not use an average prime offer rate before its effective date.