New fee on mortgage refinances could cost homeowners $1,400
Housing Wire
AUGUST 12, 2020
The Federal Housing Finance Agency rolled out a new adverse-market refinance fee of 0.5% on Wednesday which will be assessed for cash-out and no-cash-out refinances sold to Fannie Mae and Freddie Mac after Sept. 1. “In light of market and economic uncertainty resulting in higher risk and costs incurred by Fannie Mae, we are implementing a new loan-level price adjustment,” the letter from the larger of the two government-sponsored enterprises said.
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