Effective April 1, upfront fees from Fannie Mae and Freddie Mac will rise from 1.125% to 3.875% for second-home loans and from 0.25% to 0.75% for certain other high-balance loans.
Sandra Thompson, the FHFA’s acting director, said in a statement, “These targeted pricing changes will allow [Fannie Mae and Freddie Mac] to better achieve their mission of facilitating equitable and sustainable access to homeownership while improving their regulatory capital position over time.”
