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CREDIT PRODUCTS
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  Advance Restructuring
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SPECIALS
CORRESPONDENT SERVICES
MORTGAGE PARTNERSHIP FINANCE
Funding-Strategy Models
PRODUCTS AND SOLUTIONS GUIDE
ACTIVITY-BASED STOCK REQUIREMENT

AMORTIZING ADVANCE

Fixed rate and term; monthly payments of interest and principal; repayment terms out to 20 years.

 Key Features
  • Fixed rate

  • Fixed term

  • Amortizing
   
Common Uses
  • Fund short- or long-term assets whose principal balance declines on a monthly basis due to amortization and/or prepayment.
   
Maturities
  • Out to 20 years.
   
Principal-Amortization Periods
  • Out to 30 years.
   
Disbursement
  • Next-day if requested by 3:00 p.m.

  • Same-day possible if you call by noon.
   
Payment of Principal and Interest
  • Principal and interest due monthly on the first business day of the month.

  • Interest is calculated on an actual/360-day basis.
   
Prepayment
  • Prepayable in full or in part at any time, subject to fee.

  • Partial prepayments may be in amounts as small as $100,000 and in intervals of $100,000 thereafter.

  • With partial prepayment, we will recalculate the principal and interest payments. A reduction in the monthly payment may be possible.
   
Forward Rate Commitments
  • Lock in a guaranteed rate up to two years before disbursement.

  • Our forward rate commitment adds a premium to the current rate.
   
Automatic Discount
  • We will give you an automatic discount off the posted rate on any Amortizing advance if your advances-to-assets ratio is 10 percent or more.
  If Your Advances-
to-Assets Ratio is:
Your Automatic Discount will be:
  10 percent or more 1 basis point
  15 percent or more 2 basis points
  20 percent or more 3 basis points
   
Risks
  • Please see the Amortizing Advance Primer for a discussion of the risks and other considerations associated with the Amortizing advance.
   
More Information

 

 

 
 
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