Comment Detail
Date: 05/17/23 First Name: Laura Last Name: Triplett Email: ltriplett@acmllc.com Organization Type: other Organization: Atlantic Coast Mortgage Comment
Instead of adjusting LLPAs up and down for different categories, how about using a set fee in the form of a credit for targeted borrowers to pay down the PMI on the loan. This will give the borrower a true discount on their monthly payment and not leave it up to the lender to factor into the pricing. I have several borrowers who have always maintained a 740 + score until the pandemic, when their businesses were adversely affected and since then have a lower score, but the scoring model is not forgiving for extenuating circumstances. Adjusting fees for LLPA based on score , assumes the data being reported is accurate.
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