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Our guiding principle: Envision Mortgage Solutions thrives only on honesty, on honor, on the sacredness of obligations, on faithful dedication to our clients and colleagues, and on unselfish performance. Without them, it cannot live. |
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Envision Mortgage Solutions is a local company with 2 locations to serve you: Crestwood Office
4731 Midlothian Tpke #32
[contact us] [directions]Crestwood, IL 60445 [708] 597-8884 Schaumburg Office
1051 Perimeter Drive, Suite 900
[contact us] [directions]
Schaumburg, IL 60173 [847] 619-8123
Licensed with the Illinois Department of Banks & Real Estate # MB.6759105 and is a member in good standing with the Illinois Association of Mortgage Brokers www.iamb.org, the National Assoc. of Mortgage Brokers, and the Illinois Secretary of State. |
The 11th District Cost of Funds is more prevalent in the West and the 1-Year
Treasury Security is more prevalent in the East. Buyers prefer the slowly
moving 11th District Cost of Funds and investors prefer the 1-Year Treasury
Security.
The monthly weighted average Eleventh District has been published by the
Federal Home Loan Bank of San Francisco since August 1981. Currently
more than one half of the savings institutions loans made in California are
tied to the 11th District Cost of Funds (COF) index.
The Federal Home Loan Bank's 11th District is comprised of saving institutions
in Arizona, California and Nevada.
Few people who use and follow the 11th District Cost of Funds understand exactly
how it is calculated, what it represents, how it moves and what factors affect
it.
The predecessor to the 11th District Cost of Funds index was the District
semiannual weighted average cost of funds published for a six month period
ending in June and December. The San Francisco Bank was the first Federal Home
Loan Bank to publish a monthly cost of funds index.
The funds used as a basis for the calculation of the 11th District Cost of Funds
index are the liabilities at the District savings institutions: money on
deposit at the institutions, money borrowed from a Federal Home Loan Bank
(known as advances) and all other money borrowed. The interest paid on these
types of funds is the cost of these funds.
The ratio of the dollar amount paid in interest during the month to the average
dollar amount of the funds for that month constitutes the weighted average cost
of funds ratio for that month.
The average cost of funds is said to be weighted because the three kinds of
funds and their costs are added together before a ratio is computed rather than
calculating averages individually for the three sources and using a simple
average of the three ratios. This gives the greatest weight to the interest
paid on deposits, and explains the delayed reaction of the index to rising
fixed-rate mortgages.
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