federal_register: E7-14030

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document_number title type abstract publication_date pub_year pub_month html_url pdf_url agency_names agency_ids excerpts regulation_id_numbers
E7-14030 Adjustable Rate and Home Equity Conversion Mortgages-Additional Index Rule This final rule adds: The one-year London Interbank Offered Rate (LIBOR) as an acceptable index for the HUD-insured one-, 3-, 5-, 7-, and 10-year Adjustable Rate Mortgage (ARM) products, and the one- month Constant Maturity Treasury (CMT), the one-month LIBOR, and the one-year (12-month) LIBOR as acceptable indices to adjust interest rates on the HUD-insured Home Equity Conversion Mortgage (HECM). Under current regulations, only the weekly average yield of U.S. Treasury securities, adjusted to a constant maturity of one year (commonly referred to as the one-year CMT), may be used to adjust interest rates on HUD-insured ARMs and HECMs. This final rule follows a June 19, 2006, proposed rule and includes HECMs in response to public comment on the June 19, 2006, proposed rule. 2007-07-20 2007 7 https://www.federalregister.gov/documents/2007/07/20/E7-14030/adjustable-rate-and-home-equity-conversion-mortgages-additional-index https://www.govinfo.gov/content/pkg/FR-2007-07-20/pdf/E7-14030.pdf Housing and Urban Development Department 228 This final rule adds: The one-year London Interbank Offered Rate (LIBOR) as an acceptable index for the HUD-insured one-, 3-, 5-, 7-, and 10-year Adjustable Rate Mortgage (ARM) products, and the one- month Constant Maturity Treasury (CMT), the... 2502-AI32

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