Freddie Mac issued Bulletin 2019-10, restricting the purchase of LIBOR ARMs due to the anticipated discontinuance of the LIBOR index in 2021. Per the Bulletin, Freddie Mac will no longer purchase LIBOR ARMs with settlement dates more than 6 months after the note date. Freddie Mac will continue to purchase newly originated LIBOR ARMs while working with the industry on a LIBOR index transition plan. The Bulletin is effective immediately.
Fannie Mae
Fannie Mae Updates Area Median Incomes used to Determine Borrower Eligibility for HomeReady, RefiNow and Duty to Serve Loans
Fannie Mae updated the area median incomes (AMIs) used to determine a borrower’s eligibility for HomeReady, RefiNow, and Duty to Serve loans. The 2024 AMIs
May 13, 2024
