Loan Level Price Adjustments (LLPAs) are additional fees implemented by the Federal Housing Finance Administration (FHFA) on certain types of mortgage loans. These fees are designed to account for the increased risk associated with certain loan characteristics, such as a high loan-to-value ratio or a low credit score. The LLPAs are applied to loans purchased […]
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In his 20 years in mortgage banking, no year has compared to 2023 in terms of difficulty, said Ben Cohen, Guaranteed Rate’s managing director and a top-producing loan officer. “This is a lot different than […]
It felt like somebody turned on the spigot. There were leads, referrals and action in January, after people returned from holiday vacations and rates declined, said Don Monson, branch manager at Sente Mortgage. He was […]
If you’re just here for the conforming loan limit news, $726,200 is the number for 2023. Does this mean no one can get a mortgage for more than $726,200? No. The conforming loan limit is […]
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