MGIC Investment Corp. (MTG)

[tommiegun54]

MGIC AND RADIAN SET UP TO BENEFIT FROM GSE REVERSAL OF MORTGAGE FEE

"Mortgage refinance fee dropped by regulator, lowering costs for borrowers"

PUBLISHED FRI, JUL 16 20211:08 PM EDTUPDATED FRI, JUL 16 20218:22 PM EDT
Diana Olick
@IN/DIANAOLICK
@DIANAOLICKCNBC
@DIANAOLICK

KEY POINTS
Fannie Mae and Freddie Mac are dropping a fee on mortgage refinances that was instituted during the pandemic, according to the Federal Housing Finance Agency.
They were charging lenders a 50 basis-point fee for all loans they delivered to the two mortgage giants, which was designed to cover losses projected as a result of the pandemic.
Fannie Mae building exterior and logo

Fannie Mae and Freddie Mac are dropping a fee on mortgage refinances that was instituted during the pandemic, lowering costs for borrowers, the Federal Housing Finance Agency said Friday.

Fannie and Freddie were charging lenders a 50 basis-point fee for all loans that were delivered to the two mortgage giants. The fee, designed to cover losses projected as a result of the pandemic, was being passed on to borrowers."