llpa: Richard Sweum: So you thought 700 was a good FICO Score? (delay?) - 12/18/13 12:28 PM
Richard Sweum:  So you thought 700 was a good FICO Score?
(Possible delay in implementation leaked by the new FHFA Director... this would be helpful!)  No, 700 is not a good FICO score...at least not any more.  Fannie and Freddie have something called LLPA's, (loan level price adjusters) for a number of elements of a borrowers credit profile and the type of loan characteristics present.  I've always been frustrated by lenders that advertise "rates" because every borower and every type of loan transaction is unique and a rate and the cost of the rate is just as unique.   Each rate available … (0 comments)