Mortgage Bankers Association – PROGRESS in Lending

MBA Releases Templates For Servicer Communications

April 26, 2021 PROGRESS In Lending Mortgage Bankers Association, mortgage servicing

he Mortgage Bankers Association (MBA) released today two templates for residential mortgage servicers’ communications with borrowers with existing London Interbank Offered Rate (LIBOR)-indexed adjustable-rate mortgages (ARMs). LIBOR is the leading reference rate for adjustable-rate single-family mortgages in the U.S. A permanent cessation of most tenors of U.S. dollar LIBOR will occur after June 30, 2023.