CMT Replaces the LIBOR Index for Reverse Mortgage Adjustable Rate Loans
For years the LIBOR (London Interbank Offered Rate) has been used as the index on HECM (Home Equity Conversion Mortgage) adjustable-rate loans. Because the Financial Conduct Authority (The British regulator of LIBOR) and US government regulators have warned that the publication of the LIBOR is not guaranteed beyond 2021, the need for a new index …
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