Mortgage Rates
Why Legacy First Republic Jumbo ARM Borrowers Could Face an Unprecedented Payment Shock — and How to Check If You're Exposed
A decade ago, First Republic's interest-only ARMs were the sharpest liquidity tool in Bay Area luxury lending. As the last cohort of those 10-year fixed periods rolls off, some of those notes are recasting without the periodic caps most borrowers assume every adjustable-rate mortgage has.