What are the points LIBOR ARM?

I work in a loan company service. I try to learn more about mortgages and the different. Well, looking at the same time, I ran Libor ARM. For example: A lender offers a 6-Libor ARM 3%, zero points, 1.625% and the margin. What are the issues? I ready SERVICE. I do not deal with customer interaction at all. I just got out of certain documents.

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