MPF Announcement 2023-34

MPF Xtra Selling Guide Updates-LLPAs

Effective Date: Immediately (unless otherwise noted)

On May 17, 2023, Fannie Mae published Lender Letter 2023-06, which communicated the future changes to loan-level pricing adjustments (LLPAs). This update rescinds the DTI ratio-based LLPAs that were originally scheduled to be effective for loans funded on or after August 2, 2023. 

This Lender Letter supersedes LL-2023-01 regarding the DTI ratio LLPAs. All other LLPA changes announced became effective May 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.