Freddie Mac issued Bulletin 2019-10, restricting the purchase of LIBOR ARMs due to the anticipated discontinuance of the LIBOR index in 2021. Per the Bulletin, Freddie Mac will no longer purchase LIBOR ARMs with settlement dates more than 6 months after the note date. Freddie Mac will continue to purchase newly originated LIBOR ARMs while working with the industry on a LIBOR index transition plan. The Bulletin 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
