Fannie Mae and Freddie Mac can reclaim their pricing edge on mortgages with higher loan-to-value ratios, although it’s not at all clear whether they will. Up until the FHA this week slashed its annual insurance premiums on most loans by 50 basis points, Fannie and Freddie had a fairly clear pricing advantage on higher LTV loans regardless of credit score, according to a new analysis by Deutsche Bank Securities.On loans with LTVs ranging from 90 percent to 95 percent, for example, GSE pricing was better for all borrowers with credit scores over 620. The same was true for loans with LTVs ranging from 95 percent to 97 percent, a program just put in place this year. Things are different ...