The mortgage giants said they were adding the 0.5% “adverse market fee” in response to the uncertainty of the coronavirus pandemic.
Trade groups including the Mortgage Bankers Association and the National Association of Realtors called on the Federal Housing Finance Agency, which oversees Fannie and Freddie, to reverse the fee.
In a letter responding to the criticism, the heads of Fannie and Freddie wrote, “This modest fee will help us continue helping those who are really hurting during the pandemic.”
