General World News

FHFA rescinds controversial DTI LLPA

Did you hear that sound? That’s the entire mortgage industry shouting, “hip, hip hooray!” The Federal Housing Finance Agency (FHFA) on Wednesday announced that it would rescind a controversial loan-level pricing adjustment (LLPA) for conventional borrowers with debt-to-income (DTI) levels at or above 40%.

The FHFA, which regulates Fannie Mae and Freddie Mac, had previously delayed implementation of the DTI LLPA until August following a chorus of upset from mortgage industry stakeholders, including the influential details ⇒

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