CUNA statement on mortgage guarantee fees
(January 8, 2014) — Credit Union National Association President and CEO Bill Cheney released the following statement after news from the Federal Housing Finance Agency, that under new Director Mel Watt, it has directed taxpayer-owned Fannie Mae and Freddie Mac to delay implementing increases to the fees they charge on home loans they guarantee.
“We urged FHFA not to go forward with fee increases and we are pleased to see that Director Watt has delayed any immediate increase on guaranteed home loan fees. Over the last several years the FHFA has continued to allow these fees to steadily increase, making home lending unnecessarily expensive for lenders and borrows. For the benefit of many American home buyers, we hope that moving forward the FHFA will help curtail these fee increases.”