![]() ![]() Your ability to profit too much is why they have the APR and APOR test! The examiner will look at what the originator was offered and do the calculations from there.So, that means you will either need to do that before you present pricing, or they will be included in the points and fees calculations. ![]() I point blank asked an attorney for FNMA if they were planning on baking in their pass-through LLPA’s into the rate and the answer is NO.Higher rate=potential to flunk the other two tests! Don’t get too excited! Remember the other two tests I talked about? Too high of a rate with LLPA’s or lender contributions = higher rate. ![]() LLPA’s that are “baked” into the rate at the creditor level and displayed to the loan originator with them baked in without additional risk adjustments, are not part of the points and fees calculation because they exist in the rate.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
March 2023
Categories |