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Designation of Replacement for Federal Housing Finance Agency's ARM Index

Notice Details
Type
Notice
Number
2019-N-5
Group
Fannie Mae
Freddie Mac
FHL Banks
Document Number
2019-14475
Federal Register Publish Date
07/09/2019
Comment Status
Closed
Comment Open Date
07/09/2019
Comment End Date
09/09/2019

Designation of Replacement for Federal Housing Finance Agency's ARM Index

Contact Information

FOR FURTHER INFORMATION CONTACT: David L. Roderer, Senior Financial Analyst, David.L.Roderer@fhfa.gov, (202) 649-3206; or Eric Raudenbush, Associate General Counsel, Eric.Raudenbush@fhfa.gov, (202) 649-3084 (these are not toll-free numbers); Federal Housing Finance Agency, 400 Seventh Street SW, Washington, DC 20219. If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

Summary

​SUMMARY: The Federal Housing Finance Agency (FHFA or Agency) recently discontinued publication of its monthly index for adjustable rate mortgage loans, known as the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, due to dwindling participation by mortgage originators in the Agency’s Monthly Survey of Rates and Terms on Conventional One-Family Non-farm Mortgage Loans, on which the index had been based. By this notice, FHFA is designating a replacement index, to be called ‘‘PMMS+.’’ The replacement index will be an adjusted version of Freddie Mac’s Primary Mortgage Market Survey 30-Yr FRM, and will take effect immediately. FHFA intends to publish the PMMS+ Index value monthly and on approximately the same schedule as it has been publishing the existing index. FHFA is soliciting public comments on its designation of the replacement index and will consider any comments received before finalizing its decision about the successor index.

DATES: Interested persons may submit comments on or before September 9, 2019.

Public Comments people-icon

Below are a compilation of public comments made on this notice.

1 items
Date Sort ascending First Name Last Name Organization Comment
Robert Davis American Bankers Asscoiation Comment letter attachedView Comment Email: rdavis@aba.com
Attachment: View Attachment