{"component": "definition", "props": {"groups": [{"snippet": "The index, as provided in each Mortgage Note, used to adjust the Mortgage Interest Rate on each Interest Rate Change Date.", "samples": [{"hash": "4EuenALbFik", "uri": "/contracts/4EuenALbFik#current-index", "label": "Master Mortgage Loan Sale and Servicing Agreement (Lehman XS Trust Series 2006-12n)", "score": 19.0, "published": true}, {"hash": "lgoJq37qrVy", "uri": "/contracts/lgoJq37qrVy#current-index", "label": "Master Mortgage Loan Sale and Servicing Agreement (Structured Asset Securities Corp 2004-18h)", "score": 18.0, "published": true}, {"hash": "l5tTi9NRAGM", "uri": "/contracts/l5tTi9NRAGM#current-index", "label": "Master Mortgage Loan Sale and Servicing Agreement (Lehman XS Trust Series 2006-10n)", "score": 18.0, "published": true}], "size": 19, "snippet_links": [{"key": "each-mortgage-note", "type": "definition", "offset": [26, 44]}, {"key": "mortgage-interest-rate", "type": "definition", "offset": [65, 87]}, 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64]}], "hash": "7a9f197a668f433223ad44c0b4449b7c", "id": 9}, {"snippet": "means the most recent Index figure available thirty (30) days before the Change Date.", "samples": [{"hash": "9TmR66wpToK", "uri": "https://www.hud.gov/sites/dfiles/SFH/documents/HECM_Adjustable_Rate_Model_Mortgage_Second_Note_3_2_21.pdf", "label": "Note", "score": 12.582477755, "published": false}, {"hash": "3TkzDvccsWo", "uri": "https://www.hud.gov/sites/documents/HECM_MODEL_ARM_SEC_NOTE.PDF", "label": "Note", "score": 9.5557837098, "published": false}, {"hash": "c8Nc9cXxpDa", "uri": "https://www.hud.gov/sites/documents/HECM_MODEL_ARM_NOTE.PDF", "label": "Adjustable Rate Note", "score": 9.5557837098, "published": false}], "size": 4, "snippet_links": [{"key": "most-recent", "type": "definition", "offset": [10, 21]}, {"key": "index-figure", "type": "definition", "offset": [22, 34]}, {"key": "change-date", "type": "definition", "offset": [73, 84]}], "hash": "447dcb017b2ef2e9395566c144b19f17", "id": 10}], 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232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% % of Change x 100 = Percentage Change CPI-U Calculation Example: A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.", "Formula is as follows: <strong>Current Index</strong> \u2013 Base Index / Base Index = % of Change % of Change x 100 = Percentage Change PPI Calculation Example: PPI for current period 232.945 Less PPI for base period 229.815 Equals index point change 3.130 Divided by base period PPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.", "Formula is as follows: <strong>Current Index</strong> \u2013 Base Index / Base Index = % of Change % of Change x 100 = Percentage Change CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section.", "For example, if the <strong>Current Index</strong> was 7.00% and the Rate Spread 12.99 percentage points, the ANNUAL PERCENTAGE RATE would be 18.00% and by dividing this percentage figure by 365, we would compute a Daily Periodic Rate of .0493%.", "From and after each Rate Change Date until the next Rate Change Date, the Adjustable Rate shall be the sum of (i) the <strong>Current Index</strong>, and (ii) the Margin, which sum is then rounded to three decimal places, subject to the limitations that the Adjustable Rate shall not be less than the Margin.", "The <strong>Current Index</strong> is the most recent index figure available on each Change Date.", "Your interest rate for Purchases is based on a variable rate equal to the sum of the <strong>Current Index</strong> plus a &quot;Rate Spread&quot; of 12.99 percentage points.", "Your interest rate for Purchases is based on a variable rate equal to the sum of the <strong>Current Index</strong> plus a \u201cRate Spread\u201d of 12.99 percentage points.", "Your interest rate for Purchases is based on a variable rate equal to the sum of the <strong>Current Index</strong> plus a \u201cRate Spread\u201d of 7.99 percentage points."], "related": [["cmt-index", "CMT Index", "CMT Index"], ["rpix-index", "RPIX Index", "RPIX Index"], ["sifma-index", "SIFMA Index", "SIFMA Index"], ["cpi-index", "CPI Index", "CPI Index"], ["underlying-index", "Underlying Index", "Underlying Index"]], "related_snippets": [], "updated": "2025-07-06T21:56:45+00:00"}, "json": true, "cursor": ""}}