HUD Proposes New Rule to Transition from LIBOR to SOFR Index for ARM Loans

October 19, 2022

With the upcoming sunset of the London Interbank Offered Rate (LIBOR) index in June 2023, on October 19th, 2022, HUD proposed a new rule to transition to the Secured Overnight Financing Rate (SOFR) index for forward adjustable rate mortgages. In the case of this proposed rule, HUD has shortened their typical public comment period of 60 days down to 30 days.

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