Coalition: Mortgage Fees Gouge Buyers
The Columbian (Wash.), July 4, 2016–Harney, Kenneth
A coalition of 25 national housing, consumer, civil rights and mortgage groups is blowing the whistle on Fannie and Freddie, accusing them of gouging the public. In a letter to the companies’ federal regulator, the groups charged that despite huge improvements in underwriting standards and sharply lower borrower defaults, Fannie’s and Freddie’s surcharges continue to be “excessive” and are driving “many qualified borrowers” away from conventional home loans.
