Arc Home Wholesale ALERT – GSE LLPA Updates
Please note that Arc Home is updating the Conventional Loan Level Price Adjustments (LLPAs) to align with the Fannie Mae and Freddie Mac requirements.
Loans locked on or before the date noted in the Current LLPAs table below, for the lock period requested, will be subject to the current LLPAs. Loans locked with the current LLPAs must be funded on or before April 11, 2023, otherwise the new LLPAs will be applied.
· Loans requiring an extension for any reason must be funded by April 11, 2023, or the new LLPAs will be applied.
· Loans with a relock request are required to be funded by April 11, 2023, or the new LLPAs will be applied when determining worse case pricing.
The lock windows for the current LLPAs are as follows:
|
Lock/Fund Window for Current LLPAs |
||
|
Lock Period (Days) |
Required Lock Date |
Required Fund Date |
|
90 |
2/6/2023 |
4/11/2023 |
|
60 |
2/6/2023 |
4/11/2023 |
|
45 |
2/19/2023 |
4/11/2023 |
|
30 |
3/6/2023 |
4/11/2023 |
|
15 |
3/21/2023 |
4/11/2023 |
Loans locked and/or funded on or after the dates noted in the New LLPAs table below, for the lock period requested, will be subject to the new LLPAs. The new LLPAs will be applied as follows:
|
Lock/Fund Window for New LLPAs |
||
|
Lock Period (Days) |
Lock Date |
Fund Date |
|
90 |
2/7/2023 |
4/12/2023 or later |
|
60 |
2/7/2023 |
4/12/2023 or later |
|
45 |
2/20/2023 |
4/12/2023 or later |
|
30 |
3/7/2023 |
4/12/2023 or later |
|
15 |
3/22/2023 |
4/12/2023 or later |
Refer to the Fannie Mae Lender Letter 2023-01 and revised LLPA Matrix, as well as the Freddie Mac Bulletin 2023-1 and updated Guide Exhibit 19, Credit Fees, for complete details.