Fannie Mae and Freddie Mac Deadlines are Fast Approaching

As two of the largest participants in the lending market, Fannie Mae and Freddie Mac (the “GSEs”) are busy preparing for the transition away from LIBOR.  Both GSEs have established milestones for beginning acquisition and issuance of SOFR-indexed products and ceasing LIBOR-indexed products.  Below are reminders of important deadlines:

Single-Family (“SF”) ARMs and Securities:

August 3, 2020 Fannie Mae began accepting delivery of SOFR-indexed ARMs.
September 30, 2020 LIBOR applications end. All LIBOR loans must have Application Received Date on or before this date.
November 16, 2020 Freddie Mac will begin accepting delivery of SOFR-indexed ARMs.
December 1, 2020 This the last MBS/Guarantor PC issue date for LIBOR-indexed ARM pools.
December 31, 2020 This is the last date for cash/whole loan purchase of LIBOR-indexed ARMs.

Continue reading “Fannie Mae and Freddie Mac Deadlines are Fast Approaching”

© 2009- Duane Morris LLP. Duane Morris is a registered service mark of Duane Morris LLP.

The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

Proudly powered by WordPress