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HUD/OH RIN: 2502-AJ51 Publication ID: Fall 2021 
Title: Removal of LIBOR as Interest Rate Index Under 24 CFR 203 and 24 CFR 206 (FR-6151) 
Abstract:

FHA uses the London Interbank Offered Rate (LIBOR) in determining interest rates on Adjustable Rate Mortgages.  The LIBOR will be replaced with a new benchmark in 2021. The Secured Overnight Financing Rate (SOFR) is considered the likely successor to LIBOR. HUD seeks to revise the regulations to replace the LIBOR as the rate used to determine interest rates.

 
Agency: Department of Housing and Urban Development(HUD)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 24 CFR 203    24 CFR 206   
Legal Authority: 12 U.S.C. 1709 and 1710    12 U.S.C. 1715b    12 U.S.C. 1715z-16    12 U.S.C. 1715u    42 U.S.C. 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
ANPRM  10/05/2021  86 FR 54876   
ANPRM Comment Period End  12/06/2021 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: No  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Elissa Saunders
Acting Director, Office of Single Family Asset Management
Department of Housing and Urban Development
Office of Housing
451 Seventh Street SW,
Washington, DC 20410
Phone:202 708-2121