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May 17, 2018

CHLA Demands FHFA Correct MI Pricing Disparities, End Volume Discounts

By Carisa Chappell

cchappell@imfpubs.com

The Community Home Lenders Association wrote the Federal Housing Finance Agency Thursday morning asking Director Mel Watt to investigate and put an end to mortgage insurers offering better prices to lenders based on their size or volume when it comes to government-sponsored enterprise loans.

MI pricing disparities have become more prevalent and the CHLA said it’s caused a growing concern among their members because it puts small lenders and their borrowers at a disadvantage.  As a…

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.

35%

The wholesale/table funder. They’re taking the financial risk.

30%

The broker, but only for the first year. After that, the borrower is fair game.

13%

Hard to answer. It’s a complicated issue.

22%