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An examination of the status of the US mortgage market in preparing for the transition at the end of 2021 from the LIBOR (London Interbank Offered Rate) to the SOFR (the Secured Overnight Financing Rate) index; LIBOR is the index used to set interest rates on mortgages and millions of other financial contracts. The authors see signs of progress, albeit less than might have been expected.  They believe that many market participants will look to Fannie Mae, Freddie Mac, and their regulator, the Federal Housing Finance Agency (FHFA), for guidance on how to handle the shift from LIBOR to SOFR with minimal disruption to the US mortgage market.