Estimated reading time: 0 minutes, 32 seconds

FHFA’s Calabria Hits Back at Congress Over Refinance Fee

In congressional testimony, Federal Housing Finance Agency director Mark Calabria defended Fannie Mae and Freddie Mac’s new 0.5% adverse market fee on certain refinances. So reports Seeking Alpha.

!--more-->“The losses this fee covers are the result of policies that have helped millions of Americans stay safe in their homes during a global pandemic,” Calabria told the House of Representatives Committee on Financial Services. “Although Congress has not provided any funding to offset the costs of these policies, the Enterprises’ congressional charters require that expenses must be recovered via income.”

The fee’s start date was previously postponed from September 1 to December 1.

Read the full article from Seeking Alpha

Read 1681 times
Rate this item
(0 votes)

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.