Our most widely-used ARM Disclosures (Cx13457 and Cx14089) have been slightly modified for ARM Construction-to-Perm loans. The subtitle that describes the features of the loan has been changed so that fixed construction periods will be included in the ARM fixed period description. For example, an ARM loan with a 12 month fixed construction period and fixed rate for 24 months thereafter will now show as a 3/1 ARM.
This change will be in effect immediately. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.