If the LLPA is passed to consumers as a charge at consummation, lenders will have to disclose the added cost as an “origination charge” on the loan estimate and closing disclosure.
Roughly $5 billion worth of expanded-credit loans were stranded, looking for a home but investors wouldn’t bite unless the originator/seller was willing to take a major haircut on the sale. And many did.
With nonbanks continuing to steal market share away from depositories, warehouse commitments have been going through the roof. Of course, ultra low mortgage rates help...