Episode 950
Mortgage Market: GSE's Strike Back as Backlash Grows Over Refi Fee
Real Estate News: Real Estate Investing Podcast · Kathy Fettke / RealWealth
August 25, 20205m 2s
Audio is streamed directly from the publisher (dts.podtrac.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
The CEOs of Fannie Mae and Freddie Mac are responding to a massive backlash over an unexpected refinancing fee. In a letter to lenders, they wrote that the uproar was unwarranted, saying it won't make much of a difference to a homeowner's monthly payment. And the fee will help the mortgage guarantee companies continue their work of helping others. If you haven't heard of the fee yet, it's a half point surcharge on the cost of a refi that takes effect on September 1st. For the average $280,000 refi, that's about $1400 added into the amount that is being financed. www.NewsForInvestors.com