Discount/Sale to Fannie Mae
Because my lender (conventional mortgage through a bank) botched giving me the rate we had agreed upon (I have an e-mail to prove.), in order for me to close on time, I had to take the incorrect rate (lower rate, paying more points.). I leaned on the mortgage broker quite a bit, and he was able to discount the amount I paid for points by ~$200, and then said to me, "That discount is coming out of my commission, and if I discount this loan any more, we won't be able to sell the loan to Fannie Mae."
Is there a discount threshold where Fannie Mae will no longer purchase the loan? I'm at 4.5 on an investment property, paying $705 for the rate (locked in mid-October). A number of discrepancies have occurred while working with this lender, and I'm concerned that this comment was more of a pressure tactic than a true statement. Any thoughts?