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1. A Note on the Valuation of Mortgage Loan Commitments: Incorporating the Commitment Cost in the Mortgage Rate.

Author

Kutner, George W. and Seifert, James A.

Subjects
MORTGAGE loans, LOANS, MORTGAGE rates, INTEREST rates, RATES, HOUSING finance, REAL estate business
Abstract

Abstract. Kutner and Seifert [4] recently found that mortgage loan commitments have significant financial value. This note presents a procedure that may be used to incorporate this value in the nominal lending rate. The findings indicate that typical lending rates should be augmented by approximately 8 to 44 basis points in order to adequately capture this additional cost. [ABSTRACT FROM AUTHOR]

Published
1990

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