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An adjustable-rate mortgage generally has a fixed-interest rate for a set number of years at the beginning, then the rate fluctuates.
have halted or slashed production of the FHA adjustable-rate mortgages, officials at the companies said.
Group 1 consists of 832 conventional, hybrid adjustable-rate mortgage loans secured by first liens on one to four family residential properties, all of which have original terms to maturity of approximately 30 years.
The Group I mortgage pool consists of first lien, second lien, fixed-rate, and adjustable-rate mortgage loans that have a cut-off date pool balance of $235,311,139.