USE THIS CALCULATOR IF THE LOAN APPLICATION DATE IS ON OR AFTER OCTOBER 1, 2009 OR THE LOAN CLOSED ON OR AFTER JANUARY 1, 2010.

IF THE LOAN APPLICATION DATE IS BEFORE OCTOBER 1, 2009 USE THE OLD CALCULATOR.

The FFIEC developed the NEW Rate Spread Calculator to assist HMDA reporting institutions with the 2008 Regulation C amendments for reporting Rate Spread data effective October 1, 2009 and forward.

The Rate Spread Calculator generates the spread between the Annual Percentage Rate (APR) and a survey-based estimate of APRs currently offered on prime mortgage loans of a comparable type utilizing the “Average Prime Offer Rates” fixed or adjustable table, action taken, amortization type, lock-in date, APR, fixed term (loan maturity) or variable term (initial fixed-rate period), and lien status. Rate Spread is a calculated field and is NOT simply the APR on the loan application.

A Batch Rate Spread Calculator is also available to allow institutions to calculate the rate spread on multiple Loan Application Registers (LARs).

The “Average Prime Offer Rates” tables are available in ASCII comma delimited format to view, print and download. See Help for more details.

NOTE: Do not use the rate spread calculator to calculate the HOEPA status; they are two different fields which require two different calculations. See Help for more details.