Agency Price Adjuster Changes
Fannie Mae and Power (All programs)
Rate will be adjusting our Conforming Fannie Mae loans price adjusters including Power Programs in response to the recent pricing announcements from Fannie Mae. For all locks and re-locks received on or after Thursday March 20th, 2008 will be subject to the new pricing adjusters listed below. These adjustments will be replacing the current FICO/LTV adjustments and will be applied in addition to the rest of the FNMA adjustments. Power Programs will be subject to the following adjustments as well but the Underwriting guidelines will stay at their current requirements.
| Agency Fixed & ARM | Agency Fixed & ARM | ||||||||
| Agency FICO/LTV GRID (Terms greater than 15 years) | Agency Cash-Out Refi FICO/LTV GRID (all loan terms) | ||||||||
| Does not apply to Expanded Approval | Applies to all Agency Programs. | ||||||||
| <=60 | 60.01-70 | 70.01-80 | 80.01-100 | <=60 | 60.01-75 | 75.01-80 | > 80.00 | ||
| 720+ | 0.250 | 0.000 | 0.000 | 0.000 | 700+ | 0.000 | (0.125) | (0.375) | (0.500) |
| 680-719 | 0.000 | (0.500) | (0.500) | (0.500) | 660-699 | 0.000 | (0.250) | (0.750) | (1.500) |
| 660-679 | 0.000 | (0.500) | (1.250) | (1.250) | 620-659 | 0.000 | (0.750) | (1.500) | (2.000) |
| 640-659 | 0.000 | (0.500) | (1.750) | (1.750) | <620 | (1.000) | (1.750) | (2.500) | (3.000) |
| 620-639 | 0.000 | (0.750) | (2.500) | (2.500) | |||||
| <620 | 0.000 | (0.750) | (2.750) | (2.750) |
Freddie Mac (All Programs)
We are lowering our loan amount adjustments on all Freddie Mac programs to the adjustments listed below.
| Conventional Fixed Rate Loan Amount Adjustments | ||||
| *Includes all Home Possible loans regardless of findings | ||||
| 40/30/20 | 15 | |||
| Loan Amount | Price | Price | ||
| $75,000 - $139,999 | (0.100) | (0.100) | ||
| Conventional A- Loan Amount Adjustments (LP Level Findings) | ||||
| 40/30/20 | 15 | |||
| Loan Amount | Price | Price | ||
| $75,00 - $139,999 | (0.100) | (0.100) | ||
| $140,000 - $240,000 | (0.050) | (0.050) |
Please feel free to contact your VP of Wholesale Lending or the Commitment Desk for further clarification if needed.
Thank you for your continued business!!