March 8, 2023
Servicing Notice - Legacy LIBOR Replacement Index
(Updated December 13, 2023) The Servicing Notice announces that the replacement index that will be used for servicing our legacy single-family LIBOR mortgage loans is the spread-adjusted term SOFR administered by the CME Group Benchmark Administration, LTD. and published by Refinitiv Limited. The Federal Reserve Board selected the replacement rates as required by the Adjustable Interest Rate (LIBOR) Act and in anticipation of LIBOR’s cessation on the day after June 30, 2023.
