The American Bankers Association joined a broad coalition of housing and finance trade organizations in a letter to congressional leaders Friday urging them not to use the Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets.
The average single-family guarantee fees charged by Fannie Mae and Freddie Mac fell 2 basis points in 2016 to 57 basis points, the Federal Housing Finance Agency reported today.
Freddie Mac posted net income of $2.2 billion in the first quarter of 2017, reversing a loss from the first quarter of 2016.
The U.S. Department of Agriculture’s Rural Housing Service will cut fees for lenders who use its Single-Family Housing Loan Guarantee Program, according to news reports.
The average single-family guarantee fees charged by Fannie Mae and Freddie Mac increased by two basis points in 2015 to 59 basis points, the Federal Housing Finance Agency reported today.
In a letter to the Federal Housing Finance Agency today, ABA and several other consumer, housing and banking groups called on the Federal Housing Finance Agency to reduce or eliminate the loan-level price adjustments charged by Fannie Mae and Freddie Mac.
A group of senators and representatives today issued a reconciled version of a long-term highway funding bill that includes a modified but still substantial cut to the dividends paid on the Federal Reserve Bank stock that national banks and other Fed member banks are required to hold.
According to news reports this morning, several ABA-opposed provisions are still in play as revenue-raising measures in the Senate’s highway spending reauthorization bill, even though the bill failed to advance on a procedural motion on Tuesday.
The percentage of loans that Fannie Mae and Freddie Mac purchased from small lenders in 2014 rose substantially, according to a report yesterday from the Federal Housing Finance Agency.
The guarantee fees that Fannie Mae and Freddie Mac charge will remain at current levels with “modest adjustments,” the Federal Housing Finance Agency said on Friday.