Risk-based pricing could help the conforming market reach underserved borrowers, but some question whether loan originators have enough incentive to lead consumers to the lowest-cost financing. Loan-level risk-based pricing, which has long been the norm for the subprime market, is starting to make its way into the conforming market. Subprime lenders over the years have used rate sheets to incrementally adjust the cost of financing for borrowers based on readily observable characteristics by adding points