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Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Index

Phonetics: in·dex    \'in-ˌdəks\

Function: noun

Definition 1:
A published interest rate to which the interest rate on an Adjustable Rate Mortgage (ARM) is tied. A few commonly used indices include the 1 Year Treasury Bill, 6 Month LIBOR, and the 11th District Cost of Funds (COFI).