The Federal Housing Finance Agency (FHFA) recently announced targeted increases to Fannie Mae and Freddie Mac's Loan Level Pricing Adjustments (LLPA/upfront fees) for certain high balance/super-conforming loans and second home loans. The updated LLPAs are effective for all whole loans purchased on or after April 1, 2022 and for loans delivered into MBS pools with issue dates on or after April 1, 2022. These pricing adjustments for high balance/super-conforming loans will increase between 0.25 percent and 0.75 percent, tiered by loan-to-value ratio. For second home loans, upfront fees will increase between 1.125 percent and 3.375 percent, tiered by loan-to-value ratio.
Carrington Mortgage Services, LLC (CMS) will transition to the new LLPA’s effective January 18, 2022 for conventional high balance/super-conforming and second home loans. Any existing loans in the pipeline locked with the “old” LLPA’s must close and fund by March 1, 2022. Please view our CMS Rate Sheets for full details.
Please contact CorrespondentRM@carringtonms.com with any questions.
Carrington thanks you for your business.
An Equal Housing Opportunity Lender. Copyright 2007 - 2023 . Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: www.nmlsconsumeraccess.com.
The content of this website is intended for licensed third-party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services is one of the leading wholesale mortgage lenders.
Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00