Increase in DTI Fees Dropped!
Great news! The cancellation of proposed Debt-to-Income (DTI) related Loan Level Pricing Adjustments have been dropped by the Federal Housing Finance Agency (FHFA).
These fees would have impacted borrowers who spend more than 40% of their gross monthly income towards debt obligations, causing them to pay for more their mortgage. This was presented by the FHFA earlier this year, postponed and ultimately cancelled.
This is great news for borrowers and lenders.
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Read the full FHFA announcement here: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Rescission-of-Enterprise-Upfront-Fees-Based-on-Debt-To-Income-Ratio.aspx