Boston 25 News
BOSTON — Impending changes to federal rules on mortgage fees will mean high credit scores no longer make for better mortgage rates.
“Is it fair? I don’t necessarily think of it as being fair,” Virna Brown said of the change, which takes effect May 1.
Brown is a mortgage loan officer with Envoy Mortgage in Franklin, Massachusetts. She says the industry has been gearing up for changes to federal rules on mortgage fees that will offer discounted rates for some home buyers with riskier credit.