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Robin Hood Rates?


Happy Thursday – I hope you are doing well. For this week’s video, I want to discuss the new rate adjustments that are being implemented by Fannie and Freddie. Believe it or not, the media made it sound worse than it is.


I have provided an article below to explain in detail but wanted to address the main questions I have been asked so far.


•Does this mean that someone with a lower credit score now gets a better rate than someone with a good credit score? No. Higher credit score borrowers will still get better rates.

•Does the rate I was quoted recently change on May 1st? No. This change was announced in January and was implemented a few months ago. The adjustment goes into effect for loans delivered to Fannie and Freddie by May 1st so the lenders needed time to close the loans and deliver within that time frame.

•How much will this impact my rate? Please see the grid in the article but in most cases, it affects rates between .125% and .25%.


At the end of the day, I don’t necessarily agree with these changes, but their goal is to help more clients afford homes, and it is the new rules we have to play by. Please call me if you want to discuss a specific scenario and we can see what the changes mean to you.


Weekly Newsletter

https://mortgageratesweekly.com/cmg-teamsadler/6442f6149d238671bb29ac44?s=em


Stewart Sadler

Managing Partner

Cornerstone Mortgage Group

​404-441-4765

ssadler@cmghl.com

​http://www.cmghl.com

Georgia Residential Mortgage Licensee: 21412 • Company NMLS: 147913 • Individual NMLS: 147938

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