Lender Guidelines: 6.2 Lender Compensation
For Loans with Non-Bond DPA or Bond DPA: Mortgage loans originated with Non-Bond DPA (including loans with MCCs) or Bond DPA will be delivered to Lakeview. Lenders will be compensated by Lakeview upon loan purchase. Effective for new reservations on or after December 5, 2022, Lender compensation will be in the form of a Servicing Released Premium equal to 1.50%. Lenders may now charge a 1% origination or discount point in addition to the fee for FICO scores of 620-639 as provided in Section 6.1.
However, Lenders may collect all reasonable and customary fees and closing costs, provided all fees are fully disclosed in accordance with federal, state and local regulations. For the Bond Program, such fees may not exceed reasonable and customary fees and closing costs that do not exceed fees and costs that would be charged for a mortgage loan that is not financed with the proceed of tax-exempt mortgage revenue bonds (such as the Bonds).
For MCC-Only Loans (no DPA): Loans using only TSAHC’s MCC assistance (no DPA) will not be delivered to Lakeview. The Lender may retain or sell such loans. TSAHC and Lakeview are not involved in Lender compensation for MCC-only loans.
For access to the full TSAHC DPA & MCC Guidelines, please click here.