IF THE APPLICATION DATE IS ON OR AFTER OCTOBER 1, 2009 OR THE ACTION TAKEN DATE IS ON OR AFTER JANUARY 1, 2010 USE THE NEW CALCULATOR.
The old rate spread calculator generates the spread between the Annual Percentage Rate (APR) and the comparable treasury security utilizing the "Treasury Securities of Comparable Maturity under Regulation C" table, action taken, lock-in date, APR, term (loan maturity), 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 "Treasury Securities of Comparable Maturity under Regulation C " table is 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.