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#2261064 - 10/13/21 03:53 PM LIBOR to SOFR Notice Requirements
TMatt87 Offline
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TMatt87
Joined: May 2011
Posts: 1,910
Idaho
We are switching our ARMs tied to LIBOR to SOFR at the end of the year. Our existing notes have a fallback statement that says if the current index becomes unavailable, we will select a comparable index and notify the borrower of the change. I search Reg. Z, but I couldn't find any timing or content requirements for a change of index notice. Will this have to follow the normal rate change guidelines, or are changes in index requirements somewhere else?
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#2261069 - 10/13/21 07:53 PM Re: LIBOR to SOFR Notice Requirements TMatt87
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,310
Galveston, TX
Unless this gets finalized: https://www.federalregister.gov/doc...tating-the-libor-transition-regulation-z

You are pretty much left with what is currently in Reg Z
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