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.