The FHFA announced the elimination of certain loan level pricing adjustments (LLPAs) that it charges particular borrowers based on their credit score, incomes, and down payments.
FHFA is eliminating upfront fees for:
These changes are timely given the near tripling in mortgage rates over the last 12 months. There is no reduction in quality standards, though.
NAR has advocated for a reduction in LLPAs for several years.
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