HUD does not have authority to make any adjustments to the effective date of Mortgagee Letter (ML) 2016-16.
Mortgagees must take appropriate and immediate steps to obtain the correct rates from the Intercontinental Exchange (ICE) Benchmark Administration following the discontinuation of the availability of the rates in the Federal Reserve Board’s Selected Interest Rate statistical release (H.15).
ML 2016-16 is available at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee