Audit Update
Description
Update to the New York Subprime Home Loan Audit to use the 5-year adjustable Average Prime Offer Rate for ARM loans with an initial fixed period of 3 years or more, in place of the 5/1ARM PMMS.
Update to the New York Subprime Home Loan Audit to use the 5-year adjustable Average Prime Offer Rate for ARM loans with an initial fixed period of 3 years or more, in place of the 5/1ARM PMMS.
NYDFS Industry Letter