Reposted from 11.9.18 Associated Press article:

“LIBOR, the London Interbank Offered Rate, which sets the rate for 2.8 million adjustable-rate mortgages (ARMs) and most reverse mortgages, is set to expire in three years. The index that appears to be LIBOR’s most likely successor, the Secured Overnight Financing Rate (SOFR), could potentially create a $2.5 to $5.0 billion annual windfall for forward mortgage holders and an equivalent loss for investors…”

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