Fannie Mae issued Lender Letter LL-2021-05, announcing the retirement of CMT-indexed ARMs. Per the Lender Letter, to be eligible for delivery to Fannie Mae, all CMT ARMs must have application dates on or before Jun. 30, 2021. In addition, all CMT ARMs must be purchased as whole loans on or before Sep. 30, 2021 or delivered into MBS pools with issue dates on or before Sep. 1, 2021.
Click to view the Fannie Mae Lender Letter LL-2021-05: https://www.tenaco.com/fannie-mae-lender-letter-ll-2021-05/
