To further its goal of diminishing Fannie Mae and Freddie Mac’s dominant role in the marketplace, the mortgage giants’ federal regulator has directed the companies to raise their “guarantee fees” again in March and April. The fee increases will average 14 basis points on typical 30-year mortgages, and 4 basis points on 15-year mortgages, the Federal Housing Finance Agency said.

An increase of 10 basis points costs a borrower with a $200,000 mortgage about $4,000 over the life of a 30-year loan, Bloomberg reports. Guarantee fees charged by Fannie and Freddie averaged 38 basis points in 2012, up from 28 basis points in 2011, Bloomberg said.

Although a 25 basis point fee that’s been assessed on all mortgages purchased by Fannie and Freddie since 2008 is being eliminated in most states, it will remain in place in four judicial foreclosure states where foreclosure carrying costs are higher than average: New York, New Jersey, Connecticut and Florida. Source: fhfa.gov

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