Fannie Mae And Freddie Mac Publish "LIBOR Transition Playbook"

Fannie Mae and Freddie Mac (the "GSEs") published a "LIBOR Transition Playbook" and provided an FAQ and additional online resources "to help stakeholders transition business policies and processes to support products linked to the Secured Overnight Financing Rate ("SOFR"). The Alternative Reference Rates Committee ("ARRC") welcomed the availability of the new information.

According to the GSEs, the playbook sets forth a plan for transitioning from LIBOR to alternative reference rates, noting that it is targeted to those looking for further information on: (i) single-family adjustable-rate mortgages and securities; (ii) single-family credit risk transfer transactions; (iii) collateralized mortgage obligations; (iv) Fannie Mae multi-family adjustable-rate mortgages and mortgage-backed securities; (v) Freddie Mac multi-family floating-rate loans and securities; and (vi) multi-family credit risk transfer transactions.