SOFR

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

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

Four tranches of AAA-rated notes in the $342.2 million JPMorgan Mortgage Trust 2020-8 may utilize a term-SOFR rate should the benchmark improve on the weighted-average coupon of the deal.

While using the 30-day SOFR as its index, Freddie Mac structured the deal so it could shift to a one-month term if and when that rate is approved.

A New York-state proposal to shift trillions of dollars in securities contracts from Libor- to SOFR-based benchmarks is gathering dust. That worries bankers and investors on on how to proceed with the next steps toward a replacement rate as Libor's post-2021 expiration grows nearer.

The restrictions on the pooling of loans with any interest term based on Libor will be effective for traditional mortgage-backed securities issued starting Jan. 21, 2021, and earlier for reverse-mortgage securitizations.

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

This proposed Libor replacement is an imaginary, backward-looking benchmark dreamed up by the economists at the Fed with no discernible market.

As the discredited Libor interest rate benchmark enters its last months, some banks are turning away from the repo-based alternative that regulators prefer. What could go wrong?

Newly published conventions from an industry-led benchmark replacement study group could spark adoption of more built-in rate transition plans into loan documents.

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 group that worked with the Fed to devise an alternative rate to Libor rejects criticism that the index favors megabanks.

Regulators on both sides of the Atlantic have spent the better part of three years trying to kill the London interbank offered rate. Now, they’re looking to it once again to underpin hundreds of billions of dollars in loans as they seek to rescue their economies.

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.

The government-sponsored enterprises’ plan to cease accepting loans pegged to the London interbank offered rate a year ahead of its scheduled expiration is expected to hasten action in securitized markets.

Regulators' oversight of the industry's switch to a new interest rate benchmark is expected to intensify as a key deadline approaches.

Lenders have until the end of 2021 to phase out their use of the London interbank offered rate in setting interest rates, but ServisFirst Bancshares and its CEO Tom Broughton see little reason to wait when a replacement is already available.

Freddie Mac launched a groundbreaking multifamily structured pass-through deal that includes a class of floating rate bonds indexed to the Secured Overnight Financing Rate for the first time ever.

The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.