The Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will eliminate the 50 basis point “Adverse Market Refinance Fee” for loan deliveries effective August 1.
Tag: Federal Housing Finance Agency
FHFA Eliminates 50 Basis Point ‘Adverse Market Refinance Fee’
The Federal Housing Finance Agency announced today that Fannie Mae and Freddie Mac will eliminate the 50 basis point “Adverse Market Refinance Fee” for loan deliveries effective August 1.
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“We have called on FHFA to rescind this policy [the Adverse Market Refinance Fee] and appreciate that they have reviewed the data and been responsive to our request. With less than 2 percent of GSE loans in forbearance and continued home price appreciation resulting in significant borrower equity, there is no need for the fee.”
–MBA President and CEO Robert Broeksmit, CMB
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