That Big Bad Fee on Refinances Has Been Delayed! Here’s What It Means

Posted To: Mortgage Rate Watch

Two weeks ago, Fannie and Freddie announced a new guaranty fee (aka “g-fee”) for virtually all refinances.

To say this has been a hot topic for the mortgage market would be an understatement. I’d highly recommend reading my initial coverage if you haven’t already: Here’s the initial reaction from Wednesday night Here’s a more detailed list of bullet points from the following morning For those who don’t like reading or who already know everything I’m about to say, feel free to skip to the next section (“what does this all mean”) below. G-fees are a longstanding ingredient in the mortgage market equation.

They are collected by Fannie Mae and Freddie Mac (collectively the “agencies” or GSEs) in order to guarantee timely repayment to mortgage investors. In other words, if borrowers don’t pay, the…(read more)

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