Fannie Mae issued Lender Letter LL-2019-05, restricting the purchase of LIBOR ARMs due to the anticipated discontinuance of the LIBOR index in 2021. Per the Lender Letter, LIBOR ARMs must be purchased or securitized by Fannie Mae no later than 6 months after the first payment date of the loan. Fannie Mae will continue to purchase and securitize newly originated LIBOR ARMs that are seasoned 6 months or less. The Lender Letter is effective immediately.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
