By some estimates, the enterprises will have to increase guarantee fees by about 3 basis points to offset the lost revenue from FHFA's targeted elimination of LLPAs.
Amid declining volumes, the largest and smallest lenders who sell to the GSEs lost market share while large and mid-sized lenders got a bigger piece of the pie. (Includes two data charts.)
The changes to the selling guide will impact asset verification, Social Security income verification and the choice of credit scores when there are multiple borrowers.
A new service in Condo Project Advisor lets sellers quickly determine if a condominium project meets the tough post-Surfside purchase eligibility requirements.
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