LTV & LLPA Charts Effective 02_01_2016 1

Transcription

1 Contents Fannie Mae Conventional Loan Level Price Adjustment (LLPA) Matrix...2 Fannie Mae REFI PLUS Loan Level Price Adjustments...6 Freddie Mac Loan Level Price Adjustments...9 LTV & LLPA Charts Effective 02_01_2016 1

2 Fannie Mae Conventional Loan Level Price Adjustment (LLPA) Matrix Table 1: ALL ELIGIBLE MORTGAGES (excluding MCM) LLPA by Credit Score/LTV Ratio LTV & LLPA Charts Effective 02_01_2016 2

3 Table 2: All Eligible Mortgages (excluding MCM) LLPA by Product Feature LTV & LLPA Charts Effective 02_01_2016 3

4 Table 3: Mortgages with Subordinate Financing (excluding MCM) Table 4: Minimum Mortgage Insurance Coverage Option (excluding MCM) LTV & LLPA Charts Effective 02_01_2016 4

5 Table 5: MyCommunityMortgage (MCM) Table 6: HomeReady LTV & LLPA Charts Effective 02_01_2016 5

6 Fannie Mae REFI PLUS Loan Level Price Adjustments Table 1: Cumulative LLPA and AMDC Cap LTV & LLPA Charts Effective 02_01_2016 6

7 Table 2: All Eligible Refi Plus Mortgages LLPA by Credit Score/LTV Ratio LTV & LLPA Charts Effective 02_01_2016 7

8 Table 3: All Eligible Refi Plus Mortgages LLPA by Product Feature Table 4: Refi Plus Mortgages with Subordinate Financing LTV & LLPA Charts Effective 02_01_2016 8

9 Freddie Mac Loan Level Price Adjustments Effective with all loans locked on or after February 1, 2016 Table 1: LLPA Caps LTV & LLPA Charts Effective 02_01_2016 9

10 Table 2: INDICATOR SCORE / LOAN-TO-VALUE FOR MORTGAGES OTHER THAN RELIEF REFINANCE MORTGAGES The following Indicator Score / Loan-to-Value Grid applies to all Mortgages with the exception of Relief Refinance Mortgages, 15-year fixed rate Mortgages, Section 184 Native American Mortgages, Section 502 GRH Mortgages, FHA / VA Mortgages, and Mortgages subject to CS/LTV (A-minus) delivery fees. 1 Indicator Score / LTV Fee assumes the use of the middle/lower then lowest method outlined in Section 37.5 of the Guide for identifying the Mortgage Indicator Score. An additional 0.25% delivery fee will be added to the Indicator Score/ Loan-to-Value fee rate if a method other than the middle/lower then lowest method is used for identifying the Mortgage Indicator Score. Freddie Mac reserves the right to adjust fee rates if Freddie Mac determines that Sellers inconsistently use the recommended method and the permitted methods to identify Indicator Scores for Mortgages delivered to Freddie Mac. See Section 37.5(e) for details. 2 Mortgages without an Indicator Score will be charged the below 620 Indicator Score / Loan-to-Value Fee. 3 Sellers should refer to the Guide and their other Purchase Documents for other requirements and restrictions. For Mortgages with LTV ratios delivered in excess of the Guide requirements, the highest delivery fee rate will apply. 5 For Home Possible and Home Possible Advantage Mortgages for which the income used to qualify the Borrower does not exceed 80% of the applicable area median income or that are secured by Mortgaged Premises located in an Underserved Area, the applicable Indicator Score/LTV Fee applies subject to the applicable cap stated in the Home Possible and Home Possible Advantage Delivery Fee Cap grid in this Exhibit. Home Possible and Home Possible Advantage Mortgages that do not meet one of the criteria in the preceding sentence are not subject to the caps stated in the Home Possible and Home Possible Advantage Delivery Fee Cap grid in this Exhibit. LTV & LLPA Charts Effective 02_01_

11 Table 3: INDICATOR SCORE / LOAN-TO-VALUE FOR RELIEF REFINANCE MORTGAGES The following Indicator Score / Loan-to-Value Grid applies to all Relief Refinance Mortgages with the exception of 15-year fixed rate Mortgages. 1 Indicator Score / LTV Fee assumes the use of the middle/lower then lowest method outlined in Section 37.5 of the Guide for identifying the Mortgage Indicator Score. An additional 0.25% delivery fee will be added to the Indicator Score/ Loan-to-Value fee rate if a method other than the middle/lower then lowest method is used for identifying the Mortgage Indicator Score. Freddie Mac reserves the right to adjust fee rates if Freddie Mac determines that Sellers inconsistently use the recommended method and the permitted methods to identify Indicator Scores for Mortgages delivered to Freddie Mac. See Section 37.5(e) for details. 2 Mortgages without an Indicator Score will be charged the below 620 Indicator Score / Loan-to-Value Fee. 3 Sellers should refer to the Guide and their other Purchase Documents for other requirements and restrictions. For Mortgages with LTV ratios delivered in excess of the Guide requirements, the highest delivery fee rate will apply. LTV & LLPA Charts Effective 02_01_

12 Table 4: ADJUSTABLE RATE MORTGAGES Table 5: CASH-OUT REFINANCE MORTGAGES INDICATOR SCORE / LOAN-TO-VALUE 1 Indicator Score / LTV Fee assumes the use of the middle/lower then lowest method outlined in Section 37.5 of the Guide for identifying the Mortgage Indicator Score. An additional 0.25% delivery fee will be added to the Indicator Score/ Loan-to-Value fee rate if a method other than the middle/lower then lowest method is used for identifying the Mortgage Indicator Score. Freddie Mac reserves the right to adjust fee rates if Freddie Mac determines that Sellers inconsistently use the recommended method and the permitted methods to identify Indicator Scores for Mortgages delivered to Freddie Mac. See Section 37.5(e) for details. 2 Mortgages without an Indicator Score will be charged the below 620 Indicator Score / Loan-to-Value Fee. 6 A cash-out refinance fee will not be assessed on a Mortgage that meets the requirements for a special purpose cash-out refinance Mortgage in Section LTV & LLPA Charts Effective 02_01_

13 Table 6: CONDOMINIUM UNIT MORTGAGES (7) 7 15 Year Fixed Rate Mortgages are not subject to the Condominium Unit Mortgage Fee. Table 7: CUSTOM MORTGAGE INSURANCE OPTIONS 8 Freddie Mac Relief Refinance Mortgages are not subject to the Custom Mortgage Insurance Options delivery fees. LTV & LLPA Charts Effective 02_01_

14 Table 8: MORTGAGES WITH HIGH LTVs 9 Applies to Freddie Mac Relief Refinance Mortgages only. Table 9: HOME POSSIBLE AND HOME POSSIBLE ADVANTAGE DELIVERY FEE CAP 23 All applicable delivery fees are subject to the Home Possible and Home Possible Advantage delivery fee cap with the exception of the custom mortgage insurance delivery fee, which will be added to the delivery fee cap. Table 10: INVESTMENT PROPERTY MORTGAGES LTV & LLPA Charts Effective 02_01_

15 Table 11: MANUFACTURED HOMES Table 12: NUMBER OF UNITS Table 13: MORTGAGES WITH SECONDARY FINANCING OTHER THAN RELIEF REFINANCE MORTGAGES 10 A secondary financing delivery fee will not be assessed on a Mortgage with a HELOC balance of zero at loan closing. 11 A secondary financing delivery fee will not be assessed on a Mortgage with an Affordable Second meeting the requirements of Section LTV & LLPA Charts Effective 02_01_

16 Table 14: RELIEF REFINANCE MORTGAGES WITH SECONDARY FINANCING 10 A secondary financing delivery fee will not be assessed on a Mortgage with a HELOC balance of zero at loan closing. 11 A secondary financing delivery fee will not be assessed on a Mortgage with an Affordable Second meeting the requirements of Section LTV & LLPA Charts Effective 02_01_