Federal Issues
NAR Sends Letter to Director of the FHFA Sandra Thompson Regarding the Recent LLPA Changes
May 11, 2023
As you may know, on May 1, 2023 pricing changes went into effect from the Federal Housing Finance Agency (FHFA) to Fannie Mae and Freddie Mac (the Enterprises) to raise upfront fees paid by some homebuyers known as loan level pricing adjustments (LLPAs). While NAR supports the FHFA’s efforts to improve the fee setting processes at the Enterprises and to maintain safety and soundness, the association strongly believes that some of the changes run counter to the Enterprises’ charter duties and should be eliminated.
In the letter NAR:
- Expressed appreciation for the FHFA's efforts to reform this critical piece of the finance system, and for reducing fees on some borrowers
- Raised concerns for borrowers facing high rates
- Points to excess capital and ROE in the fee structure of Fannie Mae and Freddie Mac
- Urges the FHFA to eliminate the fee increases
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The Pickens County Board of REALTORS® (PCBR) Market Brief is compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Board at 770.866.1397.
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About the Pickens County Board of REALTORS®
The Pickens County Board serves as a central source of information for our members and our main focus are real estate education, the promotion of professionalism in our industry and representing our REALTOR® members with legislative initiatives to create positive change for the real estate community. Throughout its history, the Pickens County Board has exerted its influence in civic affairs in its capacity of representing a substantial segment of the business community across the Pickens area. The Board has contributed to various charities over the years by hosting fundraisers.
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