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.
Tag: Sandra L Thompson
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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