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Loan Level Pricing Adjustments for Conventional High Balance Loans and Second Homes

January 14, 2022


The Federal Housing Finance Agency (FHFA) recently announced targeted increases to Fannie Mae and Freddie Mac's Loan Level Pricing Adjustments (LLPA/upfront fees) for certain high balance/super-conforming loans and second home loans. The updated LLPAs are effective for all whole loans purchased on or after April 1, 2022 and for loans delivered into MBS pools with issue dates on or after April 1, 2022. These pricing adjustments for high balance/super-conforming loans will increase between 0.25 percent and 0.75 percent, tiered by loan-to-value ratio. For second home loans, upfront fees will increase between 1.125 percent and 3.375 percent, tiered by loan-to-value ratio.
Carrington Mortgage Services, LLC (CMS) will transition to the new LLPA’s effective January 18, 2022 for conventional high balance/super-conforming and second home loans. Any existing loans in the pipeline locked with the “old” LLPA’s must close and fund by March 1, 2022.  Please view our CMS Rate Sheets for full details.


Please contact your Account Executive or Account Manager with any questions.
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