Fannie Mae is substituting indexes based on LIBOR rates published in The Wall Street Journal for the discontinued Federal Reserve Board CD rates. Also, two standard ARM Plans based on the discontinued index are retired, effective immediately. The updated Standard ARM Plan Matrix is available on this website.
As a reminder, Fannie Mae lenders are required to submit their audited financial statements and Form 582 Lender Record Information and Certification within 90 days of their fiscal year-end. For lenders that ended their fiscal year on Dec. 31, the required submissions are due by March 31.
Whole Loan and MBS Questions: 1-800-752-0257
Early Funding Questions: 1-866-944-3863
Provides a detailed overview of hybrid ARMs and is divided into several sections for easy reference
Provides a recap of the mortgage market prior to the recent historic sell-off, the technical drivers of the move in rates, and how investor sentiment has shifted in this higher-rate environment