Today: LIBOR and the Impact on Legacy ARMs

With the impending LIBOR transition, one of the remaining sticky issues for lenders is how to calculate and implement the replacement or fallback rate for adjustable-rate mortgages. Learn from MBA and industry experts on how companies should be navigating the potential operational hurdles, reporting and disclosure requirements, and what investor expectations will be for these loans.

MBA, Trade Groups Urge Senate Support of ‘Tough Legacy’ LIBOR Bill

The Mortgage Bankers Association and more than a dozen industry trade groups on Monday urged Senate leadership to support legislation that would address “tough legacy” contracts that currently reference the soon-to-expire London InterBank Offered Rate.

MBA, Trade Groups Urge Senate Support of ‘Tough Legacy’ LIBOR Bill

The Mortgage Bankers Association and more than a dozen industry trade groups on Monday urged Senate leadership to support legislation that would address “tough legacy” contracts that currently reference the soon-to-expire London InterBank Offered Rate.

MBA, Trade Groups Urge Senate Support of ‘Tough Legacy’ LIBOR Bill

The Mortgage Bankers Association and more than a dozen industry trade groups on Monday urged Senate leadership to support legislation that would address “tough legacy” contracts that currently reference the soon-to-expire London InterBank Offered Rate.

MBA, Trade Groups Urge Senate Support of ‘Tough Legacy’ LIBOR Bill

The Mortgage Bankers Association and more than a dozen industry trade groups on Monday urged Senate leadership to support legislation that would address “tough legacy” contracts that currently reference the soon-to-expire London InterBank Offered Rate.

MBA, Trade Groups Urge HUD to Issue ‘Clear Roadmap’ for Servicers in LIBOR Transition

As HUD considers changes to its index for FHA-insured adjustable-rate mortgages away from LIBOR, the Mortgage Bankers Association and other industry trade groups urged the Department to issue a clear roadmap for servicers of FHA-insured ARMs, including specification of a replacement comparable index or indices for existing mortgages, as well as guidance on communications with borrowers.