Banking, USA updates

LIBOR transition: Fannie Mae and Freddie Mac to stop accepting LIBOR and begin accepting SOFR
Shearman & Sterling LLP
  • USA
  • 28 February 2020

The Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation recently announced that they will stop accepting London Interbank Offered Rate-indexed adjustable-rate mortgages by the end of 2020. Additionally, the two government sponsored agencies announced that they will soon accept mortgages tied to the Secured Overnight Financing Rate later in 2020.

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