FNMA new loan pricing increases !

User Forum Topic
Submitted by HLS on January 17, 2009 - 12:02am

Effective Tuesday, January 20th there will be changes to conventional price adjustments.

There are changes to the cashout adjustments, the LTV & credit score risk based pricing adjustments, and a new hit for condos. Condo loans with less than 25% equity will cost .75% more than a house.

I cannot figure out how to post the matrix table for these pricing adjustments, but will email it to anybody who wants to see it.

Everybody who offers FNMA loans will have these adjustments...

Some of the spreads are huge.
For example, on an 80% loan, a borrower with a 659 credit score will have to pay 3% of the loan amount at origination to get the same rate as a borrower with a 740+ score OR take a much higher interest rate. That's a $12,000 spread on a $400K loan. OUCH!

Taking cash out now has larger pricing hits as well.

Just shoot me an email sheldon@HomeLoanSheldon.com

Submitted by AK on January 17, 2009 - 3:37pm.

OK, there goes the downtown condo market again.

Submitted by PadreBrian on January 17, 2009 - 5:30pm.

It was already dead...can't kill a zombie. 12k will come off the sale price, so yeah, down down downtown.

Submitted by Mayer on January 17, 2009 - 6:43pm.

"I cannot figure out how to post the matrix table for these pricing adjustments, but will email it to anybody who wants to see it."

HLS, perhaps you could upload it to a file sharing website such as http://www.rapidshare.com/ or megaupload and provide the link here?

Just a suggestion. Thanks for the news/information though.

Submitted by HLS on January 17, 2009 - 6:55pm.

I'll be happy to email it anyone that knows how to post it,,, I have it as a table..

When I copied it into my post, the table went away and it was just a bunch of numbers that didn't line up or make any sense..

I'll look at rapidshare,, I'm not familiar with it.

Thx, HLS

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