On Tuesday, the Federal Housing Finance Agency announced steps to limit the impact on both lenders and consumers of its newly issued 50-basis-point GSE Adverse Market Refinance Fee. Following two weeks of sustained MBA-led advocacy with its coalition partners, FHFA delayed the implementation date of the fee from September 1 to December 1.
Tag: Pete Mills
MBA Advocacy Update
On Tuesday, the Federal Housing Finance Agency announced steps to limit the impact on both lenders and consumers of its newly issued 50-basis-point GSE Adverse Market Refinance Fee. Following two weeks of sustained MBA-led advocacy with its coalition partners, FHFA delayed the implementation date of the fee from September 1 to December 1.
MBA Advocacy Update (Aug. 24, 2020)
MBA continued its advocacy on the GSEs’ recently announced adverse market fee, urging the agencies and their regulator to withdraw the proposal and engage stakeholders on the following: the rationale behind the imposition of the 50 basis point fee; ways to ensure consumer impacts are mitigated; and, the need to respect existing market commitments between lenders and consumers.
MBA Advocacy Update Aug. 24, 2020
MBA continued its advocacy on the GSEs’ recently-announced adverse market fee, urging the agencies and their regulator to withdraw the proposal and engage stakeholders on the following: the rationale behind the imposition of the 50 basis point fee; ways to ensure consumer impacts are mitigated; and, the need to respect existing market commitments between lenders and consumers.
MBA Advocacy Update
On Wednesday, the Federal Housing Finance Agency authorized Fannie Mae and Freddie Mac to impose an “Adverse Market Refinance Fee” – a 50-basis-point fee on most refinance mortgages, effective for loans delivered on or after September 1. Following the announcement, MBA CEO Bob Broeksmit, CMB, released a statement strongly urging FHFA to withdraw this directive.
MBA Advocacy Update
On Wednesday, the Federal Housing Finance Agency authorized Fannie Mae and Freddie Mac to impose an “Adverse Market Refinance Fee” – a 50-basis-point fee on most refinance mortgages, effective for loans delivered on or after September 1. Following the announcement, MBA CEO Bob Broeksmit, CMB, released a statement strongly urging FHFA to withdraw this directive.
MBA Advocacy Update Aug. 10, 2020
As congressional leaders and the administration remain deadlocked in negotiations on the next potential COVID-19 relief package, MBA’s advocacy on key federal regulatory and state-based actions has continued.
MBA Advocacy Update Aug. 10, 2020
As congressional leaders and the administration remain deadlocked in negotiations on the next potential COVID-19 relief package, MBA’s advocacy on key federal regulatory and state-based actions has continued.
MBA Advocacy Update
Last Monday, Senate Republicans released the HEALS Act – an additional COVID-19 relief package that includes direct stimulus payments and updates to the SBA’s Payment Protection Program. On Wednesday, the Federal Housing Finance Agency announced temporary adjustments to the Duty to Serve program for 2020 and 2021. Also last week, the Senate confirmed Dana Wade to be the next FHA Commissioner by a 57-40 vote.
MBA Advocacy Update
As Congress returned to begin working on the preliminary contours of another COVID-19 relief and response package, the Federal Housing Finance Agency proposed its 2021 housing goals for Fannie Mae and Freddie Mac, specifying both the single-family and multifamily mortgage purchase benchmarks for low-income borrowers or borrowers residing in low-income areas.