Cost Of Funds Index
Definition of "Cost of funds index"
Average of what savings institutions in the 11th district of the Federal Home Loan Bank System ( California, Arizona, and Nevada) are paying in interest to depositors and other sources of borrowed money. The index was developed in 1981 to provide a benchmark for adjustable rate mortgages. Currently, about 10 percent of the nation's mortgages are tied to the index. When the index rides, so do interest rates on millions of home mortgages.
Popular Real Estate Terms
Unsecured long-term debt. There is no collateral or lien on the property. A debenture can only be issued by a financially sound borrower with an excellent credit rating because no ...
Total transfer of one's rights under a real estate contract to another. ...
Amount by which the appraised value of property exceeds the debt balance. If property has a fair market value of $ 250,000 while the mortgage balance is $110,000, the owner's equity in the ...
Rights granted to owners of property restricted to conservation use, historic preservation, or some other low density function to sell to other landowners allowing them to develop their ...
Expenditures pay by the owner of house to keep and maintain it including real estate taxes, interest on a mortgage, repairs and maintenance, and capital additions (e.g., new roof, new ...
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Prevalent type of property taxes assessed on real estate. It is usually collected by the local government and distributed among agencies to finance services. ...
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Reformation in real estate means a legal action to straighten out an erroneous deed, a misleading document, an error, a paragraph, or a contract entirely which resulted from an ...
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