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.
CFPB
CFPB Amends Fair Credit Reporting Act with respect to Medical Information
The CFPB adopted rules amending the Fair Credit Reporting Act (FCRA) with respect to medical information. Per the rule adoption, the CFPB removed an exception
January 16, 2025
