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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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HUD to propose LIBOR transition rule for FHA loans

The Department of Housing and Urban Development has published [86 FR 54876] in this morning's Federal Register an advance notice of proposed rulemaking to address a transition away from LIBOR as an approved rate index for FHA-insured loans. HUD is considering a rule that would address a Secretary-approved replacement index for existing loans and provide for a transition date consistent with the cessation of the LIBOR index. HUD is also considering replacing the LIBOR index with the SOFR interest rate index, with a compatible spread adjustment to minimize the impact of the replacement index for legacy ARMs.

HUD seeks public comment on the best method of making such a transition for legacy loans and new originations. HUD is requesting public comment on 14 specific questions and any other related concerns by December 6, 2021.

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