Fannie, Freddie Reap Billions from ‘Adverse Market’ Fee

Orange County Register, Feb. 18, 2021–Jeff Lazerson
Fannie Mae and Freddie MAc funded about 1.2 million adverse market qualified refinance mortgages totaling $350 billion from Dec. 1 through Jan. 31, according to Inside Mortgage Finance. At one half-point charge, that’s a whopping $1.75 billion in adverse market fees collected in the first 60 days. Can you say jackpot? (MBA mention)