As announced in our last post on the topic, Fannie Mae and Freddie Mac added the phrase “or less than the Margin” to the end of each “Limits on Interest Rate changes” section of their Notes and Riders. The updated Notes and Riders are required to be used for all loans with note dates on or after October 1, 2016, and are encouraged to be used earlier. All of Docutech’s generic Notes and Riders now contain the updated language. Clients should check with their Account Managers to add the new language to any custom Notes and Riders based on the FNMA/FHLMC model forms. If there are any questions about this change, please contact Client Support at 1.800.497.3584.