MPF Xtra Selling Guide UpdatesEffective Date: August 1, 2021
On July 16, 2021 Fannie Mae issued Lender Letter LL-2021-13. In this Lender Letter Fannie Mae announced the adverse market refinance fee that was previously implemented in the form of a loan-level price adjustment (LLPA) for loans purchased or securitized beginning December 1, 2020 will now be eliminated.
As a result, Fannie Mae will no longer assess the LLPA for loans purchased or securitized on or after August 1, 2021. Fannie Mae has updated the Loan-Level Price Adjustment (LLPA) Matrix accordingly.