HUD Proposed Rule: Adjustable Rate Mortgages: Transitioning From LIBOR to Alternate Indices

October 05, 2021

HUD has published a proposed rule regarding the transition from London Interbank Offered Rate (LIBOR) to Secured Overnight Financing Rate (SOFR); specifically, this proposed rule would address a Secretary-approved replacement index for existing loans and provide for a transition date consistent with the cessation of the LIBOR index to address operational difficulties for mortgagees to implement the change to a new index.

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