{"id":7273,"date":"2023-04-25T23:48:09","date_gmt":"2023-04-25T23:48:09","guid":{"rendered":"https:\/\/imsfund.com\/?p=7273"},"modified":"2023-04-25T23:48:09","modified_gmt":"2023-04-25T23:48:09","slug":"will-investors-with-high-credit-scores-pay-more-now-what-the-new-mortgage-rules-actually-mean","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/04\/25\/will-investors-with-high-credit-scores-pay-more-now-what-the-new-mortgage-rules-actually-mean\/","title":{"rendered":"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\">\n<button class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<h2 class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In this article<\/h2>\n<p><\/button><\/p>\n<\/section>\n<p><span data-preserver-spaces=\"true\">There\u2019s been a lot of alarm in the real estate investment community lately over a newly enacted Federal Housing Finance Agency rule for Fannie Mae and Freddie Mac loans regarding mortgage fees.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The gist of the complaint is that homebuyers with good credit will now have to subsidize those with bad credit. Technically, this is true. However, the way it is being framed is quite misleading. The general argument goes something like this: Those with a 620 FICO score will get a 1.75% discount, and those with a 740 FICO score will pay 1%.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Or another example would be this\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/wallstreetsilv\/status\/1648738030746730519\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">particularly popular tweet<\/span><\/a><span data-preserver-spaces=\"true\">:<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">?<\/p>\n<p>Homebuyers with credit scores of 680 or higher will pay ~$40 per month more on a home loan of $400,000. <\/p>\n<p>Buyers with down payments of 15% to 20% will get socked with the largest fees.<\/p>\n<p>Buyers with riskier credit ratings and lower down payments will get lower rates and fees. <a href=\"https:\/\/t.co\/yVEp3btNJg\" target=\"_blank\" rel=\"noopener\">pic.twitter.com\/yVEp3btNJg<\/a><\/p>\n<p>\u2014 Wall Street Silver (@WallStreetSilv) <a href=\"https:\/\/twitter.com\/WallStreetSilv\/status\/1648738030746730519?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">April 19, 2023<\/a><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">While what is said is technically correct, it sounds much worse than it is.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">First and foremost, this would\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.mortgagenewsdaily.com\/news\/01192023-big-llpa-changes\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">only affect Fannie Mae and Freddie Mac loans<\/span><\/a><span data-preserver-spaces=\"true\">. This accounts for most loans made to homeowners but would not affect FHA and VA loans nor the non-conforming loans that many investors get.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The fee being discussed here is called the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/themortgagereports.com\/6866\/llpa-loan-level-pricing-adjustment-mortgage-rate\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Loan-Level Price Adjustment<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0or LLPA, which predominantly takes into account the borrower\u2019s FICO score and the LTV of the mortgage. To a lesser extent, it also takes into account whether the property is owner-occupied or not, if it\u2019s a condo or single-family residence, whether it\u2019s a second or first mortgage, and if there is any cash-out on a refinance.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The LLPA fee is then effectively added to the mortgage. So, for example, if the mortgage is $100,000 and has a 1% LLPA, the LLPA would be $1,000. This could be paid as a fee but is more often absorbed by the lender in exchange for a higher interest rate on the loan.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This added cost on the mortgage is to cover Fannie Mae and Freddie Mac from the added risk of lending to riskier borrowers.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Riskier Borrowers Are Still Paying More<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The mistake being made by many here is that the percentages given are the changes, not the totals. Well, not quite even that. The 1% fee mentioned is what someone with a 740 FICO score would pay if they are taking out an 80-85% LTV loan. The 1.75% \u201cdiscount\u201d is not the fee someone with a 620 FICO score would pay, but instead the reduction in that fee from before. And in this case, it is for someone taking out a 95% LTV loan or higher.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Before this rule was passed, the LLPA fee for someone with a 620 FICO score taking out a 95% loan was 3.5%. Now it is 1.75% (a 1.75% reduction). Here is a chart from\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.mortgagenewsdaily.com\/markets\/mortgage-rates-04212023\" target=\"_blank\" rel=\"noopener\"><em><span data-preserver-spaces=\"true\">Mortgage News Daily<\/span><\/em><\/a><span data-preserver-spaces=\"true\">\u00a0showing the effects the changes of this rule would have on loans for borrowers depending on the LTV and FICO score.<\/span><\/p>\n<figure class=\"wp-block-image size-full\"><picture decoding=\"async\" loading=\"lazy\" class=\"wp-image-151571 sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 2\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM.webp 1586w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-300x149.webp 300w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-1024x510.webp 1024w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-768x383.webp 768w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-1536x765.webp 1536w\" sizes=\"(max-width: 1586px) 100vw, 1586px\" type=\"image\/webp\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM.png 1586w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-300x149.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-1024x510.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-768x383.png 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-1536x765.png 1536w\" sizes=\"(max-width: 1586px) 100vw, 1586px\" type=\"image\/png\"><img src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM.png\" decoding=\"async\" loading=\"lazy\" class=\"wp-image-151571 sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 2\" alt=\"purchases, change from previous mortgage rule change LTV\" height=\"790\" width=\"1586\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM.png 1586w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-300x149.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-1024x510.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-768x383.png 768w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.24.58-PM-1536x765.png 1536w\" sizes=\"auto, (max-width: 1586px) 100vw, 1586px\"\/><\/source><\/source><\/picture><figcaption class=\"wp-element-caption\"><em>Change from Previous Rate Depending on LTV and FICO Score \u2013 <a href=\"https:\/\/www.mortgagenewsdaily.com\/markets\/mortgage-rates-04212023\" target=\"_blank\" rel=\"noreferrer noopener\">Mortgage News Daily<\/a><\/em><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">And here are the actual rates people would pay.<\/span><\/p>\n<figure class=\"wp-block-image size-full\"><picture decoding=\"async\" loading=\"lazy\" class=\"wp-image-151572 sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 3\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM.webp 1062w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-300x143.webp 300w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-1024x487.webp 1024w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-768x365.webp 768w\" sizes=\"(max-width: 1062px) 100vw, 1062px\" type=\"image\/webp\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM.png 1062w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-300x143.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-1024x487.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-768x365.png 768w\" sizes=\"(max-width: 1062px) 100vw, 1062px\" type=\"image\/png\"><img src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM.png\" decoding=\"async\" loading=\"lazy\" class=\"wp-image-151572 sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 3\" alt=\"Screenshot 2023 04 25 at 5.28.31 PM\" height=\"505\" width=\"1062\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM.png 1062w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-300x143.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-1024x487.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.28.31-PM-768x365.png 768w\" sizes=\"auto, (max-width: 1062px) 100vw, 1062px\"\/><\/source><\/source><\/picture><figcaption class=\"wp-element-caption\"><em>Actual Rates Depending on FICO Score and LTV \u2013 Mortgage News Daily<\/em><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">As<\/span> <em>Mortgage News Daily<\/em><span data-preserver-spaces=\"true\">\u00a0sums up,<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAs you can now plainly see, if you have a score of 640, you\u2019ll be paying significantly more than if you had a 740. Using an 80% loan-to-value ratio as an example, your LLPA at 640 is 2.25% versus 0.875% for a 740 score. That\u2019s a difference of 1.375%, or just over $4000 on a $300k mortgage. This is almost half the previous difference, and that\u2019s certainly a big change.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In fact, this rule change was made back on January 1, 2023, and only came into effect now. Here\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.fhfa.gov\/Media\/PublicAffairs\/Pages\/FHFA-Announces-Updates-to-Enterprises-SF-Pricing-Framework.aspx\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">is the announcement<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from the Federal Housing Finance Agency, and here is the\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/singlefamily.fanniemae.com\/media\/9391\/display\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">full loan-level price adjustment matrix<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from Fannie Mae itself.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The long and short story of it is, however, that those with low credit will still pay more than those with high credit. The real estate world has not been put completely upside down.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Is it Still a Subsidy for Those with Low Credit?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">At the beginning of this article, I said this new rule still involved those with good credit subsidizing those with bad. Given those with good credit still pay less, how is that so?<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The reason is that those with low credit scores are much more likely to go into default than those with good credit. And the difference is probably bigger than most people realize.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">For example,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.fico.com\/sites\/default\/files\/inline-files\/Truncation_Bias_and_Credit_Score_Modeling_Final.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">a white paper from FICO<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0concluded their model showed that \u201cat a score of 800, we expect approximately 180 borrowers to consistently pay their loans on time for every one borrower that defaults. This compares quite favorably to consumers with a score of 600, where one out of every 11 borrowers is expected to have payment problems.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Overall, this was the relationship they found between FICO scores and mortgage default rates was as follows:<\/span><\/p>\n<figure class=\"wp-block-image size-full\"><picture decoding=\"async\" loading=\"lazy\" class=\"wp-image-151573 sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 4\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM.webp 816w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM-300x160.webp 300w,https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM-768x409.webp 768w\" sizes=\"(max-width: 816px) 100vw, 816px\" type=\"image\/webp\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM.png 816w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM-300x160.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM-768x409.png 768w\" sizes=\"(max-width: 816px) 100vw, 816px\" type=\"image\/png\"><img src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM.png\" decoding=\"async\" loading=\"lazy\" class=\"wp-image-151573 sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 4\" alt=\"Screenshot 2023 04 25 at 5.30.10 PM\" height=\"435\" width=\"816\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM.png 816w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM-300x160.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2023\/04\/Screenshot-2023-04-25-at-5.30.10-PM-768x409.png 768w\" sizes=\"auto, (max-width: 816px) 100vw, 816px\"\/><\/source><\/source><\/picture><figcaption class=\"wp-element-caption\"><em>Estimated Default Rate and Odds Ratio Compared to Credit Score \u2013 <a href=\"https:\/\/www.fico.com\/sites\/default\/files\/inline-files\/Truncation_Bias_and_Credit_Score_Modeling_Final.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">FICO<\/a><\/em><\/figcaption><\/figure>\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/www.researchgate.net\/figure\/US-distribution-of-FICO-credit-scores-and-probability-of-default-by-FICO-credit-scores_tbl2_330724392\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Another paper<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0found that between 2000 and 2002, those with a FICO score of 750 or more had a probability of default of just 1%, whereas those with a score of 600-649 had a default rate of 15.8%, and those under 500 had a default rate of a whopping 41%. Similar results were found in\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.sec.gov\/files\/qrm-analysis-02-2015.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">another study<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0by the SEC of mortgages taken out between 1997 and 2009.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The general result should not be surprising, although the size of the discrepancy might be too many (Does the 2008 financial crisis make a little more sense now?).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The LLPA is meant to cover some of this added risk. But from just eyeballing the chart above, it would appear that even the old LLPAs were a bit generous (especially given the average loss a bank takes on a mortgage that gets foreclosed on\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.philadelphiafed.org\/-\/media\/frbp\/assets\/working-papers\/2019\/wp19-19.pdf\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">is something like 40%<\/span><\/a><span data-preserver-spaces=\"true\">). Reducing the LLPA for risky borrowers is likely going to increase the costs to Fannie and Freddie even more so. And as basic economics would indicate, that loss would need to be made up for by increasing rates across the board, including on borrowers with high credit ratings.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Thus, it is true this rule is likely to mean that borrowers with high credit ratings will be subsidizing those with low ratings.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">But no, the outrage clickbait headlines are false. Borrowers with low credit ratings will not be paying less than borrowers with high credit ratings. And it\u2019s important to be precise about what exactly is happening.<\/span><\/p>\n<div id=\"hero-block_62df1a82bfc88\" class=\"first:mt-0 hero-block    has-background has-theme-gold-light-background-color has-text-color has-theme-gold-color\">\n<div class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n<div class=\"relative z-30 w-full \">\n<main class=\"py-4\"><\/p>\n<p class=\"has-theme-gold-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Find a Lender in Minutes<\/p>\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\">A great deal doesn\u2019t sit around. Quickly find a lender who specializes in investor-friendly loans that are right for you and your investment strategy.<\/p>\n<p><\/main>\n<\/div>\n<div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n<picture decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 5\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Lender-Match.webp \" type=\"image\/webp\"><source srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Lender-Match.png\" type=\"image\/png\"><img src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Lender-Match.png\" decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block sp-no-webp\" title=\"Will Investors With High Credit Scores Pay More Now? What The New Mortgage Rules Actually Mean 5\" alt=\"find a lender with lender match\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Lender-Match.png\"\/><\/source><\/source><\/picture>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"italic\"><b>Note By BiggerPockets:<\/b> These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/will-investors-with-high-credit-scores-pay-more-now\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article There\u2019s been a lot of alarm in the real estate investment community lately over a newly enacted Federal Housing Finance Agency rule for Fannie Mae and Freddie Mac loans regarding mortgage fees.\u00a0 The gist of the complaint is that homebuyers with good credit will now have to subsidize those with bad credit. [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-7273","post","type-post","status-publish","format-standard","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/7273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=7273"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/7273\/revisions"}],"predecessor-version":[{"id":7274,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/7273\/revisions\/7274"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=7273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=7273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=7273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}