FHFA rescinded its proposed LLPA changes
SPAAR - 05/12/2023
Latest Update: On May 10, 2023, the Federal Housing Finance Agency (FHFA) rescinded its proposed loan level pricing adjustment (LLPA) upfront fee on borrowers with debt-to-income ratios greater than 40 percent that was slated to go into effect August 1. It was also announced that a request for input (RFI) on an LLPA increase on borrowers with credit scores over 680 and down payments from 5% to 25% would be issued and information gathered from industry, consumers, academics, and private market experts.
Read background information on LLPAs and NARs position on the issue.
Featured Content
Time for a few more CE Credits
Tune into SPAAR’s course offerings for CE Credits to stay compliant or simply to take advantage of topics offered.