Skip to comments.FHFA Raises Guarantee Fees For Fannie Mae and Freddie Mac (DeMarco's Last Stand)
Posted on 12/09/2013 3:45:34 PM PST by whitedog57
Today, FHFA directed Freddie Mac and Fannie Mae to raise guarantee fees in three components:
The base g-fee (or ongoing g-fee) for all mortgages will increase by 10 basis points; The up-front g-fee grid will be updated to better align pricing with the credit risk characteristics of the borrower; and The up-front 25 basis point adverse market fee that has been assessed on all mortgages purchased by Freddie Mac and Fannie Mae since 2008 is being eliminated except in the four states whose foreclosure carrying costs are more than two standard deviations greater than the national average.
Which states lead the country is carrying costs? New York and New Jersey lead in time to foreclosure.
This is acting Director Ed DeMarcos last stand for getting Fannie Mae and Freddie Mac back into profitable territory and reducing taxpayer losses.
Lets see if President Obamas choice for replacing a serious regulator (DeMarco) with someone who has no regulatory experience (Mel Watt) turns out to be a blessing or a curse.
Why do you never post the criminally stolen images?