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Feds Delay Refinance Fee Until December

Saturday, Sep 05 2020
Lending
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A contentious new fee on refinanced mortgages won’t take effect as soon as originally planned. So reports CNN.

!--more-->The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, recently announced that the two mortgage giants won’t begin charging a new “adverse market” fee on refinances until December 1. The original effective date was September 1.

The fee, which won’t apply to loans with balances under $125,000, adds 0.5% to the overall mortgage amount.

Read the full article from CNN. 

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