Changes to Delivery Fees and Credit Requirements

With continuing deterioration of credit quality and widespread declining home values in most areas of the country, we are:

• Further expanding our use of risk-based pricing, increasing postsettlement delivery fee rates for mortgages with higher risks, and adding delivery fee rate credits for mortgages with lower risks.
• Revising our credit and purchase requirements for mortgages with high loan-to-value (LTV) ratios, discontinuing purchases of most mortgages with LTV/TLTV/HTLTV ratios greater than 97 percent, and revising our requirements for other mortgage products with characteristics that continue to cause concern as the market rapidly changes.

Get more information

For more information, please:

• Review the March 13, 2008 Guide Bulletin [PDF 205K ], as we suspended implementation of the 30 basis point delivery fee for mortgages with LTV/TLTV ratios >80 percent and minimum Indicator Scores <740 effective immediately.
• See our summary of all upcoming delivery fee rate changes and effective dates [PDF 190K]
• Watch for additional information on modifications we will be making to Loan Prospector and the selling system to reflect these changes.