As posted in the Fannie Mae Selling/Servicing Notice dated March 12, 2014, the Federal Reserve Board CD Index has been discontinued. Effective immediately, standard ARM Plans 1030 and 1031 are retired and Fannie Mae will no longer accept delivery of mortgage loans originated under either of those plan numbers. Fannie Mae requires that sellers and servicers use the 6-month Wall Street Journal LIBOR index instead. ConformX users have not printed loan packages through the Fannie Mae 6 Month CD Index program for over a year.
Effective tomorrow, March 15, 2014, Fannie Mae program “6 Month CD ARM Convertible – 1/1/6” [program index 83831] and all other similar 6 Month CD Index ARM programs will no longer be available for use in ConformX.
If you have any questions or concerns about the removal of these programs, please contact Client Support at 1.800.497.3584.
March 13, 2014