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MBA Offers Templates for LIBOR Transition

The Mortgage Bankers Association (“MBA”) recently published additional templates to assist lenders in advising borrowers of the transition away from LIBOR as an index for adjustable-rate mortgages.  The MBA previously published templates lenders could use to advise new borrowers considering a LIBOR-based ARM loan of the transition.   The new templates can be used to advise existing customers of the change in their index, through a notice or letter. 

The MBA has made the templates, and others available from their LIBOR Transition Resources Page, here.

DocMagic customers wishing to use these templates may request these be added to their packages by contacting our customer service representatives. The forms will be available beginning on May 10, 2021.

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