Fannie Mae issued Lender Letter LL-2020-12: New Adverse Market Refinance Fee (Letter). The Letter announces the implementation of a new 50 basis point (0.500%) loan-level price adjustment (LLPA). The LLPA applies to cash-out and limited cash-out refinances and is in addition to any other applicable price adjustments. The new LLPA applies to whole loans purchased on or after September 1, 2020, and loans delivered into MBS pools with issue dates on or after September 1, 2020.
Click to view the Fannie Mae Lender Letter LL-2020-12: https://www.tenaco.com/wp-content/uploads/2020/08/Fannie-Mae-LL-2020-12.pdf
