Comment Detail
Date: 05/15/23 First Name: Yumi Last Name: Lynch Email: ylynch@vantagemortgagegroup.com Organization Type: other Organization: Vantage Mortgage Brokers Comment
The LLPA or Credit Fees doesn't make any sense. These adjustments should be based on risk adjustments. The fact that higher credit scores and larger down payment borrowers are getting charged more than lower down payment borrowers, makes no sense whatsoever. These types of borrowers are the lowest risk. For example, 740 credit score borrower putting 15% down is getting charged more at .875 compared to 3% down with the same credit score at .50. Higher credit score and more down payment borrowers are definitely getting charged more to offset lower down payment and credit score borrowers.
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