Freddie Mac is telling trade groups that it will kill a $7,500 “low-activity fee” after hearing numerous complaints from banks, thrifts and credit unions. According to sources who have been briefed on the about-face, the fee – set to go into effect next year – will be mostly eliminated, but it will still apply to originators that have not sold a loan to the GSE in 36 months and do not service any Freddie loans. A Freddie spokesman declined comment but noted, “We always listen to the concerns of our customers.”
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.