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Fannie, Freddie reevaluating fees

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SAN FRANCISCO -- Fannie Mae and Freddie Mac are shifting their emphasis from earning the maximum return for investors to pricing their loan guarantees to provide maximum liquidity to mortgage markets while still maintaining minimum safety and soundness standards.That, coupled with the government's backing of Fannie and Freddie's debt and mortgage-backed securities, could help drive down interest rates in coming months, according to the newly appointed top executives at Fannie and Freddie and the head of the federal agency that oversees them.During a panel discussion today at the Mortgage Bankers Association's annual meeting, the three policymakers said that in addition to canceling fee increases originally planned for this month, Fannie and Freddie are in the process of reevaluating pricing of their loan guarantees and engaging in a concerted effort to keep existing borrowers out of foreclosure."This is a very challenging time," said Fannie Mae Chief Executive Officer Herb Al...