MPF Announcement 2023-24

MPF Xtra Selling Guide Updates-LLPAs

Effective Date: Immediately (unless otherwise noted)

On March 22, 2023, Fannie Mae published an update to Lender Letter 2023-01, which communicated the future changes to loan-level pricing adjustments (LLPAs). This update postpones the effective date for the DTI ratio-based LLPAs.  

Effective Date: The updated LLPAs will be effective for all loans funded by the MPF Program on or after May 2, 2023, with the exception of the DTI ratio LLPA, which will be effective for all loans funded on or after August 2, 2023.

To gain a full understanding of these topics, PFIs should review the entire Fannie Mae Announcement and any applicable Fannie Mae Selling Guide chapters, forms, or exhibits noted in the announcements.