What makes the situation worse than before is that the Bureau has chosen to include loan officer compensation and
GSE loan level price adjustments (LLPAs) in the calculations as well.
NAR urged the CFPB to fix the cap on fees and points with regard to counting of originator compensation,
GSE loan level price adjustments, and title insurance charges.
Not exact matches
Now it's urging Congress to support an extension of the FHA and
GSE loan limits and oppose any vote allowing the limits to drop back to their lower
level.
NOTE: Under pressure from Congress to make home
loans available to more and more U.S. citizens, the
GSE's in 1998 thru 2006 lowered their former credit and documentation standards to what we now know were unsustainable
levels.
The
GSE commenter noted that other fees disclosed on the Closing Disclosure, such as mortgage insurance and
loan level pricing adjustments, are tied to the
loan - to - value ratio which is, in turn, determined by the value used for underwriting.