The rate at which the Borrower pays their Loan Interest. The Pay Rate is the combination of the underlying Cost of Funds plus the Lender Margin; i.e. 3 Month Libor plus 2.75%.
The rate at which the Borrower pays their Loan Interest. The Pay Rate is the combination of the underlying Cost of Funds plus the Lender Margin; i.e. 3 Month Libor plus 2.75%.