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FHFA Delays Implementation of Adverse Market Fee to Dec. 1st

Thursday, August 27, 2020   (0 Comments)
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FHFA Delays Implementation of Adverse Market Fee to Dec. 1st

 

The Federal Housing Finance Agency (FHFA) directed Fannie Mae and Freddie Mac to delay the implementation date of their Adverse Market Refinance Fee until December 1, 2020. The fee was previously scheduled to take effect September 1, 2020.  FHFA is also announcing that the Enterprises will exempt refinance loans with loan balances below $125,000, nearly half of which are comprised of lower income borrowers at or below 80% of area median income. Affordable refinance products are also exempt. RESPRO® joined with 21 other trades led by MBA to lobby for the reversal of the policy. While this is not a reversal, it is a significant concession.  
 
CLICK HERE for FHFA's press release.

 



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