Fully Indexed Rate


Also found in: Acronyms.

Fully Indexed Rate

On an ARM, the current value of the interest rate index, plus the margin.

See Adjustable Rate Mortgage (ARM)/The Fully Indexed Rate.

References in periodicals archive ?
Thus, even though they may be qualified at a fully amortizing payment based on the fully indexed rate, some doubt still remains about the ability of borrowers to pay because their income is simply stated and not documented.
However, when the interest rate jumps up quickly to the fully indexed rate, the borrower's monthly payment is typically not enough to cover the monthly interest expense.
GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES MONTHLY FINANCIAL HIGHLIGHTS November 1999 - November 2000 (Dollars in millions) 2000 NOV OCT SEP AUG Total Assets $ 54,848 $ 54,284 $ 52,365 $ 51,542 Cash and Investments $ 1,179 $ 1,472 $ 663 $ 900 Loan balance (Including MBS) $ 51,370 $ 50,506 $ 49,483 $ 48,446 Loans Originated - Month $ 1,568 $ 1,647 $ 1,650 $ 1,963 Fully Indexed Rate on Loans Originated - Month 8.
During the last major bond rally that ended in early 1987, long-term rates fell so quickly that ARM borrowers found that it was possible to refinance into fixed-rate mortgages at a lower rate than what they were experiencing at the current, fully indexed rate.
Financial Information Attached) GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES MONTHLY FINANCIAL HIGHLIGHTS October 1999 - October 2000 (Dollars in millions) 2000 OCT SEP AUG JUL Total Assets $ 54,284 $ 52,365 $ 51,542 $ 50,687 Cash and Investments $ 1,472 $ 663 $ 900 $ 1,380 Loan balance (Including MBS) $ 50,506 $ 49,483 $ 48,446 $ 47,121 Loans Originated -- Month $ 1,647 $ 1,650 $ 1,963 $ 1,865 Fully Indexed Rate on Loans Originated -- Month 8.
GOLDEN WEST FINANCIAL CORPORATION AND SUBSIDIARIES MONTHLY FINANCIAL HIGHLIGHTS August 1999 - August 2000 (Dollars in millions) 2000 FEB MAR APR Total Assets $ 43,417 $ 45,636 $ 46,449 Cash and Investments $ 972 $ 1,822 $ 1,495 Loan balance (Including MBS) $ 40,773 $ 41,883 $ 42,980 Loans Originated - Month $ 1,185 $ 1,673 $ 1,605 Fully Indexed Rate on Loans Originated - Month 7.

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