Good news: This week, all Treasury-based HECM’s with a margin of +157 or less will pay the HECM maximum benefits. Ditto for LIBOR-based HECM’s with margins of +83 or less. Using these margins, the initial note rate on a LIBOR HECM will be 51 bp less than that on a Treasury HECM.
Ibis software handles many different indices. The rates of 8/12/08 are:
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