Effective October 3, 2015 CFPB rules require that a Residential Mortgage Lender disclose the rates for issuing a Loan Estimate for a purchase money mortgage the following way:

Rate for Owner's Policy: Full Owner's Rates (Based on the Purchase Price) + The Simultaneous Issue Rate for the Loan Policy - Full Loan Rates (Based on the Mortgage Loan Amount)

Rate for Loan Policy: Full Loan Rates (Based on the Mortgage Loan Amount)

To see how the numbers should be disclosed, please click HERE.