Cost-of-Savings Index (COSI)
Definition of "Cost-of-Savings Index (COSI)"
One of many interest rate indexes used to determine interest rate adjustments on an adjustable rate mortgage.
Popular Mortgage Terms
Trying to find the best deal on a mortgage. It isn't easy to do right, as a summary of the major steps involved will demonstrate. Step 1: Decide if you are a potential shopper. Step 2: ...
The definition of interest is extremely important in today’s business environment where lending and borrowing money are the power stations of our economy. A widespread definition of ...
The policy of a second mortgage lender toward allowing a borrower to refinance the first mortgage while leaving the second in place. ...
A bundle of mortgage characteristics that lenders view as comprising a distinct category. The characteristics used include whether it is an FRM, ARM, or Balloon, the term, the initial ...
Every ARM is tied to an interest rate index. An index has three relevant features:availibility, level, volatility. All the common ARM indexes are readily available from a published source, ...
The most recently published value of the index used to adjust the interest rate on an indexed ARM. ...
The house in which the borrower will live most of the time, as distinct from a second home or an investor property that will be rented. ...
The amount the borrower owes at maturity. ...
A lender who offers mortgage loans directly to the public. ...
Have a question or comment?
We're here to help.