WTF is a Loan Level Pricing Adjustment (LLPA)
2 min readMar 14, 2021
Loan level pricing adjustments are set by the Government Sponsored Entities (GSE) — Fannie Mae and Freddie Mac — or their regulator — the Federal Housing Finance Agency (FHFA) at the loan level. This are charged to the lender when the loan is delivered to the GSE for purchase and often, if not always, passed onto the borrower.