The Changing Mortgage Lending Landscape Form

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the bite Administration just announced some changes to the home loan industry and people are big mad I'm Vivian you're rich BFF and your favorite Wall Street girly who's gonna explain this headline and what's actually going on what's actually changing are the loan level price adjustments which are fees that simply put are added onto your base rate to determine your final mortgage rate think about it like an Uber ride the majority of the cost is base fare but then you got some fees but here's why people are freaking these changes will relatively benefit lower credit borrowers imagine three star Uber people suddenly getting to pay slightly less in Uber fees and five-star folks paying slightly more I get the outrage effectively the penalty for having a credit score under 680 is now smaller than before and to balance that out folks with higher credit scores will generally be paying a bit more in fees overall though higher credit borrowers will still get better rates and pay less because hi