Loan-Level Pricing Adjustments (LLPA) A loan-level pricing adjustment (LLPA) is a risk-based fee assessed to mortgage borrowers using a conventional mortgage. Loan-level pricing adjustments vary by borrower, based on loan traits such as loan-to-value (LTV), credit score, occupancy type, and number of units in a home. Borrowers often pay LLPAs in the form of higher [...]
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So far Carissa Abazia has created 29 blog entries.
The federal government is telling lenders to lower or suspend mortgage payments for homeowners who have lost income because of the coronavirus outbreak. Mike Segar/Reuters Updated at 2:49 p.m. ET on March 19, 2020 Homeowners who have lost income or their jobs because of the coronavirus outbreak are getting some relief. Depending on their situation, [...]
By Carissa Abazia Here is more information you can share with your clients, colleagues, friends and family who are asking about 0-3% interest rates. Again, mortgage rates are not affected by Sunday's fed rate cuts. Here is the first problem we must deal with: The media gets their information about rates from what Fannie Mae [...]
By Carissa Abazia The Federal Fund Rate is the overnight borrowing rate that banks get when they borrow money from the federal reserve. This rate was 0.75% last week and now it is 0.00% to 0.25%. There are a lot of questions out there about the interest drop the Federal Reserve just completed. The Federal [...]
By Carissa Abazia The Fed Reserve cut its benchmark interest rate to zero on Sunday, the second such emergency rate cut this year in response to the coronavirus. We wish mortgage rates would be 0%! However mortgage rates don’t follow the Fed Rates. Although the Fed funds rate is indirectly tied to mortgage rates, it’s [...]
By Travis Bradberry Having close access to ultra-successful people can yield some pretty incredible information about who they really are, what makes them tick, and, most important, what makes them so successful and productive. "Whenever you see a successful person, you only see the public glories, never the private sacrifices to reach them." -Vaibhav Shah Kevin Kruse recently [...]
By Carissa Abazia Consolidating your debt can help increase your credit score. Here’s what you need to know. Increase Your Credit Score A new study from TransUnion explored how debt consolidation loans impact consumer credit performance, overall debt load and credit health. TransUnion says that consolidating credit card debt with a personal loan can help [...]
WASHINGTON (AP) — Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income homeowners. The two finance companies nearly collapsed in the financial crisis 11 years [...]
Written by Erik J. Martin The Mortgage Reports Contributor Mortgage rates have been unbelievably low lately. That’s due to several factors, including the Fed’s recent decision to cut interest rates. But will they remain low for long? According to industry experts, there’s a good chance they will. Freddie Mac — one of the industry’s leading authorities — sees [...]
Written by Carissa Abazia What are closing costs? Closing costs are a combination of lender fees, third-party fees, and fees charged by your state or county for recording or transfer taxes. You will review these fees during the transaction; fees are included in the initial Loan Estimate as well as your Closing Disclosure(s). Here are [...]