Columbus Day
Our offices will be open on Monday, October 14.
Due to the federal holiday weekend, payments may take up to 5 days to post to your account. This delay will not change the
effective date of the payment.
LIBOR Rate
For variable rate loans issued on the One Month LIBOR rate, the
LIBOR is 2.05% effective October 1,
2019.
For variable rate loans issued on the Three Month LIBOR rate, the LIBOR
is 2.22% effective October 1, 2019 -
December 31, 2019.
You may identify which LIBOR is applicable to your loan on the
Final Disclosure issued by Laurel Road.
With any change to the LIBOR rate, variable rate loans will
re-amortize and a repayment schedule will be provided that will include your
new monthly payment amount, interest rate (margin plus LIBOR), and the
effective date of your new monthly payment amount.
Note: The
repayment schedule interest rate does not reflect the Auto Pay discount as
payments are not calculated with the discounted interest rate.