LIBOR Manipulation May Nullify Adjustable Rate


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see http://mobile.nytimes.com/2015/05/21/business/international/ubs-to-pay-more-than-500-million-in-fines-for-manipulating-currency-and-libor.html?_r=0

Many of the alleged mortgage loans have documents that provide for adjustment of the interest rate and the monthly payment — some as early as 30 days and some as far out as 5 years. These adjustments are expressly stated in the note as being based on changes on certain indexes. LIBOR (London Interbank Offered Rate is usually a component of the basis for the adjustment. But, as we have seen on multiple…

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About Here and Now

I rant about issues concerning foreclosure, real estate law and any topic of interest. Normally my day job is Fashion and Costume Design. I like writing and reading interesting subjects.
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