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  • Comment Detail

  • Date: 05/18/23
    First Name: Michael
    Last Name: Wise
    Email: mike@capstonedirect.com
    Organization Type: other
    Organization: Capstone Direct

  • Comment

    This should not be an agenda for political gain. This is the real world and the reasons for LLPAs as it relates to credit scores and down payment is linked to how loans perform. The lower the score and the lower the down payment the higher the risk is for that loan and you are telling us to originate more of these loans. When in reality, we already have a loan program for this....it is an FHA loan and that is for FTHB's with lower credit scores and lower income. FANNIE and FREDDIE should not be competing with FHA, they should compliment FHA. The way that you have added, not only the FICO/LTV LLPA's, but also the 2nd home and NOO LLPA's egregious and after all of the talk with high cost loans, Fannie and Freddie are trying to earn more income, by raising the rates to the end consumer. You need to rethink what you are doing to the end consumer.