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HUD recently published Mortgagee Letter 2023-09 (ML) to implement the provisions of the Adjustable Rate Mortgages: Transitioning from London Interbank Offered Rate (LIBOR) to...
The FHA has implemented the shift away from the LIBOR index while also publishing new model HECM note documents.
<p><span>Today Refinitiv commences publication of forward-looking term rate versions of its ARRC recommended fallback rates - USD IBOR Cash Fallbacks. This follows the Alternative Reference Rates Committee’s (ARRC) March 2021 </span><a title="ARRC press release" href="https://www.newyorkfed.org/medialibrary/Microsites/arrc/files/2021/20210317-press-release-Spread-Adjustment-Vendor-Refinitiv.pdf">announcement</a><span> that it had selected Refinitiv to publish its recommended fallback rates for cash products, an...