Getting Ready for LIBOR’s End

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Getting Ready for LIBOR’s End Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago LIBOR, the London Inter-Bank Offered Rate, is expected to discontinue sometime after 2021, but as the index used to set many adjustable mortgage rates, what will happen next?Jacqueline Doty, Executive, Product Management, Collateral Risk Solutions at CoreLogic, explained that the end of LIBOR will impact $1.2 trillion dollars in adjustable-rate mortgages.”It means that lenders with loans or lines of credit based on the LIBOR index will need to identify and review the terms of all of their LIBOR loans,” said Doty. “A portfolio of loans likely contains a wide variety of terms regarding LIBOR, and this will need to be assessed.”LIBOR’s end is likely to impact more than lenders and borrowers. According to Fitch Ratings, U.S. RMBS servicers showed an improved awareness of difficulties and implications tied to the anticipated expiration of LIBOR at the end of 2021.To help facilitate the likely transition away from LIBOR, Doty notes that the Federal Reserve convened a working group called the Alternative Reference Rates Committee. The ARRC has recommended an alternative to the LIBOR index called the Secured Overnight Financing Rate (SOFR) and has started promoting its use on a voluntary basis.Lenders may need to face modification. Between now and the end of LIBOR, there’s a good possibility that many loans will need to be modified because the fallback provisions are either nonexistent, unclear or impractical.”For example, in some cases, the margin cannot be adjusted and it is either too high or too low when added to the new alternate index,” Doty said.But there’s no need to panic just yet,” she adds. “The good news is there’s still time to successfully manage a smooth and efficient transition. Now is a good time for lenders to start auditing their loan data and documents and planning for fulfillment of amendments or borrower notifications.” LIBOR mortgage 2020-02-17 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Getting Ready for LIBOR’s End Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborn February 17, 2020 2,046 Views in Daily Dose, Featured, Investment, News Related Articles Tagged with: LIBOR mortgage The Best Markets For Residential Property Investors 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Demand Propels Home Prices Upward 2 days ago Previous: Fannie and Freddie Preventing Foreclosures Next: SingleSource Launches Deed in Lieu Title Product Sign up for DS News Daily Subscribelast_img read more

Prep Sports Roundup: 2/27

first_imgRICHFIELD, Utah-Hannah Morrill’s 22 points led the way as the Wayne Badgers routed Tabiona 56-33 Wednesday at Richfield High School in the first round of the 1-A girls basketball tournament. Abbie Rhoades had 8 points in the loss for the Tigers. Wayne next faces Panguitch Thursday at 4:00 pm at the Sevier Valley Center in the 1-A state quarterfinals. RICHFIELD, Utah-Jaime Montalvo posted 23 points and 6 rebounds and Rogelio Maldonaldo made a key go-ahead 3-pointer in the closing moments as Wendover outlasted Piute 69-68 Wednesday during the first round of the 1-A state boys tournament at the Sevier Valley Center. Kelby Jessup posted 24 points and 10 rebounds on 10-16 shooting and Wesley Jensen added 23 points and 6 rebounds on 9-15 from the field in defeat for the Thunderbirds, who shot 52.2 percent from the field for the game. Piute next plays Thursday at 8:30 pm in the consolation bracket at Richfield High School against Green River. Wendover advances to the 1-A state quarterfinals at the Sevier Valley Center Thursday at 8:30 pm. against Rich. February 27, 2019 /Sports News – Local Prep Sports Roundup: 2/27 RICHFIELD, Utah-Treyson Roberts posted 18 points and 12 rebounds on 6-11 shooting and converted a key 3-point play opportunity in overtime as the Bryce Valley Mustangs outlasted Milford 46-44 Wednesday in the first round of the 1-A state boys basketball tournament at the Sevier Valley Center. Sergio Vasquez added 13 points in the win for the Mustangs, who will next play Manila Thursday at 2:30 pm at the Sevier Valley Center in the 1-A state quarterfinals. Alec Williams had 12 points and 5 rebounds in the loss for the Tigers, who play Diamond Ranch Thursday at 2:30 pm in the consolation bracket at Richfield High School. 1-A Girls Basketball Opening Round @ Richfield H.S. Brad James FacebookTwitterLinkedInEmail1-A Boys Basketball Opening Round State @ SVC Written bycenter_img RICHFIELD, Utah-Dakota Young posted 22 points and 7 rebounds on 9-12 shooting as the Tabiona Tigers clobbered Wayne 69-39 during the first round of the 1-A state boys tournament at the Sevier Valley Center Wednesday. Garrett Chappell had 11 points in defeat for the Badgers. Wayne next plays in the Thursday 7:00 pm game in the consolation bracket at the Sevier Valley Center. Tabiona advances to the 7:00 pm quarterfinal Thursday at the Sevier Valley Center against Valley or Whitehorse. RICHFIELD, Utah-Jordyn Kennedy’s 11 points led the way as the Piute Thunderbirds downed Tintic 59-24 Wedesday in the first round of the 1-A girls basketball tournament at Richfield High School. Kalynn Livingston had 7 points in the loss for the Miners. Piute next faces Monument Valley Thursday at 11:30 am in the 1-A state quarterfinals at the Sevier Valley Center. RICHFIELD, Utah-Acey Orton posted 32 points and 10 rebounds on 12-17 shooting as the Panguitch Bobcats routed Tintic 71-38 Wednesday in the first round of the 1-A state boys basketball tournament at the Sevier Valley Center. The Bobcats shot 50.9 percent for the game en route to their berth in the state quarterfinals for a 1:00 pm tip-off against the winner of Monticello and Water Canyon. McCoy Fitzgerald and Jacob Whitney had 11 points apiece in defeat for the Miners. Tags: 1-A state tournament/Jaime Montalvo/Kelby Jessup/Piute/Rogelio Maldonado/Sevier Valley Center/Wendover/Wesley Jensen RICHFIELD, Utah-Orrin Wood posted 12 points on 5 of 8 shooting and Cameron Franklin added 10 points and 9 rebounds as the Valley Buffaloes downed Whitehorse 59-25 Wednesday in the first round of the 1-A state tournament at the Sevier Valley Center. Lanedon Bob had 9 points and 6 rebounds in the loss for the Raiders. The Buffaloes next face Tabiona Thursday at 7:00 pm in the state quarterfinals at the Sevier Valley Center. Lanedon Bob had 9 points in the loss for the Raiders, who face Wayne Thursday at 7:00 pm in the consolation bracket at Richfield High School. RICHFIELD, Utah-Camri Fischer led the way with 16 points and the Panguitch Bobcats embarrassed West Desert 83-9 in the first round of the 1-A girls basketball tournament Wednesday at Richfield High School. Kayli Baker had 5 points in the loss for the Hawks.last_img read more