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Tuesday, April 25, 2023

Mortgage Fee Changes Effective May 1, 2023

A recent USA Today article, discusses changes that will go into effect May 1, 2023- relating to upfront costs when acquiring loans backed by Fannie Mae and Freddie Mac.

Updates to the rates are because of changes in the Loan Level Price Adjustments (LLPAs) which are based in part on downpayment amounts and credit scores.

The following tables provide a summary of the difference in the current rates (LLPA Matrix) versus rates that will go into effect on May 1, 2023.



For more on the current LLPA Matrix see this PDF link. The discussion on the upcoming changes to the LLPA Matrix are found at this PDF link. More discussion on these updates can be found at this link.




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