Capitol comment

ABC extends its ARMsmortgagepress.commonthly treasury average, adjustable-rate mortgage, Power ARMs American Brokers Conduit has updated its monthly treasury average (MTA) adjustable-rate mortgage product, which includes a 100 percent loan-to-value (LTV) option with lender-paid mortgage insurance. The MTA ARM product offers loan amounts to $500,000 on primary residences and second/vacation homes, LTVs of 100 percent with a 700 credit score, and 95 percent with a 680 credit score. In addition, a three-year pre-payment penalty option has been added along with several other enhancements. Based on the 12-month MTA index, American Brokers Conduit's MTA ARMs (or Power ARMs) were designed as an alternative to traditional ARM programs, with one-, three-, six- and 12-month programs available. For more information, visit www.abconduit.com.