As a reminder, HELOC Contract Variable Rates will need to be updated prior to Monday, July 1st. Ahead of this rate change, we would like to remind your credit union of a few key items.
We have put together a document, linked below, which covers important items related to the rate changes. This include topics such as:
- The timing of rate changes and ensuring accuracy of the rates
- Performing manual changes to the pending change record
- Printing notices for pending change records
- And more
We strongly encourage your credit union to review this document ahead of the July 1st rate change, and share it with your credit union staff as needed. If you have any questions or are unsure if your HELOCs are contract variable rates, please contact the Lender*VP team – we are happy to assist!
