Document Updates: Adding “Fallback” Language to FHA ARM Note and ARM Rider (Cx861 and Cx901)
Since the incorporation of the Alternative Reference Rates Committee’s “fallback” language (“ARRC language”) into the uniform FNMA and FHLMC ARM notes and ARM riders (see https://compliance.docutech.com/2020/03/18/document-updates-adding-fallback-language-to-standard-arm-notes-and-arm-riders/ for details), questions have been raised as to whether or not this language should also be incorporated into our standard FHA and VA ARM notes and riders….