Cost of Funds Index (COFI) is the weighted average interest expense paid by reporting financial institutions on their borrowings. COFI stands for the 11th District Monthly Weighted Average Cost of Funds Index. The 11th District Cost of Funds Index (COFI) reflects the weighted-average interest rate paid by 11th Federal Home Loan Bank District savings institutions for savings and checking accounts, advances from the FHLB, and other sources of funds. Credit One Financial Inc. annual stock financials by MarketWatch. View the latest COFI financial statements, income statements and financial ratios. To find your index and margin, go to page 4 of your Closing Disclosure (CD) and look at the bottom of the page for the Adjustable Interest Rate (AIR) Table. It should list both the margin and the index, with something like “LIBOR12M,” which is the 1-year LIBOR. Mortgage Index Fluctuation Can Move Your Rate. When the underlying index moves Source: Federal Home Loan Bank of San Francisco (CA) Full Name: 11th District Monthly Weighted Average Cost of Funds Index The COFI is computed from data reported by COFI Reporting Members of the Federal Home Loan Bank of San Francisco. The Bank accepts data for the COFI for a given month from its COFI Reporting Members until 12 noon California time on the last business day of the following
14 Dec 2018 Certain mortgage lenders use the COFI as the index for their adjustable rate mortgage loans. Explaining the reason for the discontinuance, the 9 Apr 2019 The 11th District Cost of Funds Index (COFI) is a monthly weighted average of the interest rates paid on checking and savings accounts offered
The COFI is a ratio of monthly interest expenses to total funds, adjusted for variation in the number of days in that month, annualized and expressed as a percentage. Interest expenses, the numerator of the calculation, include the total amount of interest reported for the month on all Deposit Accounts, The Federal Cost of Funds Index (COFI) is used as a benchmark for some types of mortgage loans and securities. It is calculated as the sum of the monthly average interest rates for marketable Treasury bills and for marketable Treasury notes, divided by two, and rounded to three decimal places. Compliance News: FNMA Retires COFI Documents. FNMA has announced the following: “We currently offer several adjustable-rate mortgage (ARM) plans that use the monthly weighted-average cost of funds index (COFI) as computed each month by the Federal Home Loan Bank of San Francisco.
The 11th District Monthly Weighted Average Cost of Funds Index (COFI) is one of many indices used by mortgage lenders to adjust the interest rate on adjustable rate mortgages. The COFI index moves slower than the other indexes, making it more stable. It also lags behind actual changes in the interest rate market. For example, when rates begin to go up, the COFI index may continue to decline for a couple of months before it also begins to rise.
The 11th District Monthly Weighted Average Cost of Funds Index (COFI) is one of many indices used by mortgage lenders to 8 Aug 2019 it would discontinue publishing the 11th District Weighted Average Cost of Funds Index COFI after the publication of the December 2019, but. 7 Dec 2018 Francisco Will Stop Publishing Cost of Funds Indices in Early 2020 Funds Index (COFI) after the publication of the December 2019 COFI on 14 Dec 2018 Certain mortgage lenders use the COFI as the index for their adjustable rate mortgage loans. Explaining the reason for the discontinuance, the 9 Apr 2019 The 11th District Cost of Funds Index (COFI) is a monthly weighted average of the interest rates paid on checking and savings accounts offered