Sunday, July 18, 2021 6:02:34 PM
"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."
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