sgip
Well-known member
The 1/2 point LLPA fee add for refinances is delayed until December, but that's not the start of the add on. It's for loans DELIVERED in December, which means any new loan started in October will see the price hit. Originate in October, close in November, deliver to Agency in December is on average how the manufacturing of Conforming Agency loans go.
Since we're pretty much in September now (November delivery loans) I would be surprised if every lender drops their fees by .50 now that the Agency fee was delayed a bit. Most low cost providers (Owning/LenderFi) have the thinnest of margins and a .50 cushion right now is helping, not hurting their business model. Capturing a "before/after" screen shot or an updated Loan Estimate if you are floating will help to see if the LLPA's are removed or not.
As with all LLPA's there is pain for the first 120 days when they are implemented, but pricing eventually smooths out afterwards and the .50 price hike won't really make much of a difference then as it seems to now.
My .02c
SGIP
Since we're pretty much in September now (November delivery loans) I would be surprised if every lender drops their fees by .50 now that the Agency fee was delayed a bit. Most low cost providers (Owning/LenderFi) have the thinnest of margins and a .50 cushion right now is helping, not hurting their business model. Capturing a "before/after" screen shot or an updated Loan Estimate if you are floating will help to see if the LLPA's are removed or not.
As with all LLPA's there is pain for the first 120 days when they are implemented, but pricing eventually smooths out afterwards and the .50 price hike won't really make much of a difference then as it seems to now.
My .02c
SGIP