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Announcement 2020-011: Jumbo Series F&J ARM Retirement

Effective Monday, February 17, 2020 the 5/1, 7/1 and 10/1 ARM products will no longer be offered.

jumbo series f&j arm products are being retired

Effective with new locks or new registrations on or after Monday, February 17, 2020, the 5/1, 7/1 and 10/1 ARM products will no longer be offered due to the upcoming transition away from LIBOR index.

 

Please review your pipeline and plan accordingly in anticipation of this change for February 17.

 

The investor anticipates aligning with the new Industry standard index and will resume offering ARMs at a future date.

 

Please reference the NewRez Product Profiles for the changes outlined in this announcement.