Having been sworn in on Monday, the new head of Fannie Mae and Freddie Mac’s federal regulator today made good on a previous promise to delay implementation of a planned increase in guarantee fees charged by the mortgage giants.
In a statement, Federal Housing Finance Agency Director Mel Watt said he wants to evaluate the impact of the proposed changes, and will give at least 120 days notice if FHFA ultimately decides to raise “g-fees.”
“The implications for mortgage credit availability and how these changes might interact with the new qualified mortgage standards could be significant,” Watt said. “I want to fully understand these implications before deciding whether to move forward with any adjustments to g-fee pricing.” Source: fhfa.gov.
