The Federal Housing Finance Agency on Wednesday rescinded a controversial proposed loan-level pricing adjustment that the Mortgage Bankers Association said would have had adverse impact on both consumers and lenders.
FHFA Rescinds Proposed Loan-Level Pricing Adjustment for DTI Ratios
“We have strongly opposed FHFA’s planned debt-to-income loan level pricing adjustment since it was announced in January and have led advocacy efforts calling for its removal. The proposed fee was unworkable for lenders and would have confused borrowers and undermined the customer experience. We are pleased that FHFA engaged with industry stakeholders, recognized the negative impacts of the fee, and decided to rescind its implementation.” --MBA President & CEO Bob Broeksmit, CMB.
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