Comment Detail
Date: 05/16/23 First Name: Jeffrey Last Name: Henderson Email: jhenderson@methodmortgage.com Organization Type: federal government Organization: Method Mortgage Comment
The FHFA's new LLPA's have been detrimental to my clients that are trying to purchase homes. They amount, in most cases, to a .125-.25% higher rate than they would have otherwise gotten. At the same time, the FHA loans have gotten more attractive. It use to be that if a client had under a 720, we'd usually go FHA (unless they had substantial down payment). That cutoff is now usually 740. I can't imagine an argument that says that is better for people. It's a cash grab at best. Socialism at worst.
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