Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Watt to Re-examine Planned FHFA Guarantee Fee Hikes
WASHINGTON (12/26/13)--Incoming Federal Housing Finance Agency Director Rep. Mel Watt (D-N.C.) will delay and re-examine planned guarantee fee hikes when he takes control of the agency next year, The Wall Street Journal reported  Dec. 20.

The FHFA early this month announced it would:
  • Increase base guarantee fees for all mortgages by 10 basis points;
  • Update the up-front guarantee fee grid to better align pricing with the credit risk characteristics of the borrower; and
  • Eliminate the up-front 25 basis point adverse market fee, except in the four states whose foreclosure carrying costs are more than two standard deviations greater than the national average.
The FHFA said these fee structure changes would result in average guarantee fee increases of approximately 11 basis points based on loan purchases of Fannie Mae and Freddie Mac in the third quarter of 2013.

Watt was confirmed by the Senate on Dec. 10 and is scheduled to be sworn in on Jan. 6.


RSS print
News Now LiveWire
.@BankOnMo hits the gas with social contest at Mo. #creditunions https://t.co/dxfkgq5xDv
32 minutes ago
#NewsNow: Balance needed between 'safety and soundess' and credit availability @CUNA tells @FHFA http://t.co/jAI6sJ3Poo
1 hours ago
#NewsNow No stretch for CU to loan to fledgling yoga studio http://t.co/4ryQisBtW1
2 hours ago
.@CUNA's Pierce: Every dollar a CU spends on complying with a regulation is a dollar that is not spent to the benefit of its membership.
2 hours ago
(2of2)...that incentive structure for CUs and banks is quite different, and regulatory structure should reflect those differences."
2 hours ago