The guaranty fees charged by the government-sponsored enterprises are currently well below levels that would make issuing non-agency mortgage-backed securities attractive for originators of conforming mortgages, according to industry analysts. The g-fees charged by Fannie Mae and Freddie Mac have nearly doubled since 2011 and hit an average of 50 basis points in the first quarter of 2013, according to the Federal Housing Finance Agency. The FHFA has directed the GSEs to increase their g-fees as part of ...