You are currently browsing the tag archive for the ‘mortgage guarantee fees’ tag.

The Silicon Valley Association of REALTORS® informed its members and their clients that Fannie Mae and Freddie Mac will postpone plans to increase mortgage guarantee fees. The news was recently announced by Rep. Mel Watt, D-N.C, incoming director of the Federal Housing Finance Agency, which oversees the government-sponsored enterprises (GSEs). Watt said he will delay the planned increases in mortgage fees until he has time to review the rationale behind it.

Fannie Mae and Freddie Mac said last month that they intend to charge more to lenders who guarantee loans for borrowers with mid-range-or-below credit scores, as well as borrowers who don’t meet certain down payment guidelines. The fees were set to take effect in March and April of 2014.

Critics in the mortgage and housing industry had argued that the fees were too high. Fee hikes on lenders are usually passed on to borrowers via higher interest rates

August 2022
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031  

Archives

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 68 other followers