ARMs

The loans accounted for 18.6% of conventional single-family dollar volume in April, quadrupling its share of business at the peak of the refinance boom, according to Corelogic.

Consumers taking out adjustable-rate mortgages last year put down a median down payment of 23.6%, researchers at the real estate brokerage found.

The modifiable templates are a follow-up to a similar notification the organization created in 2019 for lender use.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

Bondholders could see principal losses if, due to the way the documents are worded, the rate is frozen at the last published amount.

Conditions have improved for the first time since November.

The Consumer Financial Protection Bureau seeks to address challenged posed by the sunset of the London interbank offered rate at the end of 2021.

Fannie Mae and Freddie Mac have different timelines for the switch.

The biggest issuers of bonds tied to the benchmark tapped to replace U.S. dollar Libor are suddenly pulling back, a potential blow to efforts by regulators to wean the financial system off a much-maligned reference rate.

Trustees are concerned about obtaining proper consents from legacy residential mortgage-backed securities investors in a timely fashion in order to make the switch from Libor to another index, Fitch Ratings said.