FHFA Delays GSE Refinance Fee to Dec. 1
The Federal Housing Finance Agency today delayed a 50 basis point fee it had planned to start imposing on Fannie Mae and Freddie Mac refinanced mortgages.
Browsing: Refinances
State Associations Urge FHFA Director to Rescind “Ill-Advised” Refi Fee
Fifty-one state bankers associations wrote to Federal Housing Finance Agency Director Mark Calabria today urging him to rescind the 50 basis point fee on refinance loans announced by Fannie Mae and Freddie Mac last week.
Senators Raise Concerns Over GSE Refinance Fee
A group of Democratic senators today wrote to FHFA Director Mark Calabria raising concerns about a recent announcement that Fannie Mae and Freddie Mac will impose an “adverse market refinance fee” of 50 basis points for no-cash-out and cash-out refinance mortgages—a move strongly criticized by ABA and several other financial trade associations last week.
Financial, Housing and Consumer Groups Criticize New GSE Fee on Refinances, Call for Withdrawal
In a surprise move Wednesday night, Fannie Mae and Freddie Mac announced that they will impose an “adverse market refinance fee” of 50 basis points for no cash-out and cash-out refinance mortgages with delivery dates on or after Sept. 1, 2020 (for Fannie Mae loans) or with settlement dates on or after September 1 (for Freddie Mac loans).
GSEs Issue Guidance on Refinance, Home Purchase Eligibility for Borrowers in Forbearance
Fannie Mae and Freddie Mac have issued temporary guidance clarifying the ability of borrowers with loans in forbearance to refinance or purchase a new home, the Federal Housing Finance Agency announced today.
FHA to Limit Cash-Out Refinances
Noting that FHA endorsements with cash-out refinances have more than tripled since 2013, the Federal Housing Administration moved to reduce the maximum loan-to-value ratio on a cash-out refi mortgage from 85% to 80%.
Lawmakers Raise Concerns About Tax Transcript Issue
A bipartisan group of lawmakers — led by Rep. Gregory Meeks (D-N.Y.) and including House Ways and Means Committee Chairman Kevin Brady (R-Texas) — wrote to the Internal Revenue Service yesterday to express concerns about recent changes to the IRS’ tax transcript processing system that could result in significant delays for consumers when attempting to purchase or refinance a home.
Associations Call on IRS to Fix Tax Transcript Issue
In a comment letter with nine trade associations on Friday, ABA urged the IRS to take immediate steps to fix problems with the tax transcript process that could result in significant delays for consumers attempting to purchase or refinance a home.
HARP Extended through 2018 as Changes Made to High-LTV Refi Program
The Federal Housing Finance Agency today extended the Home Affordable Refinance Program through Dec. 31, 2018.