Posted by John Behle on November 22, 1998 at 24:43:29:
Sure you can do it, just make the wrap adjustable also. It can be done through a set spread. I.E. rate on first goes up 1/2 percent - so does the wrap.
The other way is to just tie the rate of the wrap to the same index as the first loan is tied to.
The first method is the simplest.