Product Update - Support for SOFR

Today, we'll be releasing an update to support the addition of the SOFR Index and the SOFR 30-day average. You can now use the SOFR Index and the SOFR 30-day average as interest rates for your packages as long as you configure your product to support the new rate(s). This update is in response to the changes we made for LIBOR that were pushed out last week.

For more information, please review the New York Fed's update on SOFR. If you have any questions or feedback, please reach out to your CSM, or email us at support@lendwithspark.com. Thank you for choosing SPARK as your loan origination software provider!