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.
FHA
FHA Waives Early Payment Default Review Requirements for Properties Impacted by California Wildfires
FHA issued a waiver regarding early payment default review requirements for properties impacted by the California wildfires. FHA currently requires lenders to select all early
April 2, 2025
