Pay option ARMs automatically recast when the principal builds up to no percent or 125 percent of the original home value.
What does POA stand for?
POA stands for Pay Option Arm (loan)
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of POA
We have 155 other meanings of POA in our Acronym Attic
- Para Osteo Arthropathy
- Parallels Operations Automation
- Part Of Assembly
- Partial Order Alignment
- Partnership of the Americas (US DoD; US Southern Command)
- Party of Action
- Path of Ascension (gaming group)
- Pattern Of Analysis
- Pattern Oriented Approach
- Pay on Arrival
Samples in periodicals archive:
The program specifically serves those with non-performing subprime, negative amortization, pay option ARMs, bank portfolio product, or non-converted construction loans.
Reset dates indicate as much as 70 per cent of Pay Option ARM loans may default over the next three years.
2007 Alt-A pay option ARM RMBS collateral default rate predictions rising to 25% from 12% polled in Q3.
All of Thornburg's ARM assets are either Traditional ARMs, which includes Pay Option ARMs or Hybrid ARMs.
About $500 billion of Pay Option ARM loans are outstanding, according to the bank.
All of Thornburg's ARM assets are either Traditional ARMs, which includes Pay Option ARMs, or Hybrid ARMs.
Under the national program, Countrywide will not charge eligible borrowers loan modification fees, and Countrywide will waive prepayment penalties for subprime and pay option ARM loans that it or its affiliates own.