FHA issued Mortgagee Letter 2016-16 updating the source for obtaining the 10-year London Interbank Offered Rate (LIBOR) swap rate. Under the Mortgagee Letter, mortgagees must obtain the LIBOR swap rate from the Intercontinental Exchange (ICE) Benchmark Administration (rather than the Federal Reserve Board’s Selected Interest Rate (H.15) statistical release). As ICE does not publish a weekly average of the 10-Year swap rate, mortgagees must calculate the weekly average using the prior week’s daily three-digit USD 1100 10-Year swap rate rounded to the nearest two decimal places for the preceding Monday through Friday.
Rural Housing Service
RHS Revises Effective Date of Rule Amending Manufactured Housing Provisions under the Single Family Housing Guaranteed Loan Program
RHS issued a SFH Guaranteed Origination Notice (Notice) revising the effective date of a recently adopted rule amending manufactured housing provisions under the Single Family
March 5, 2025
