After pushback from more than 20 industry trade groups and members of Congress, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to delay the implementation date of their adverse market fee.
FHFA also announced the government-sponsored enterprises will exempt refinance loans with loan balances below $125,000. Several other products are also exempt from the fee.
Read on for reaction from RESPRO and the Mortgage Bankers Association.
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