Mortgage Industry May Fight Back Against New Risk-Pricing Charges From Fannie and Freddie
December 19, 2013
Revised loan-level price adjustments recently announced by Fannie Mae and Freddie Mac that will make mortgages more expensive for a wide breadth of borrowers are not sitting well with different factions of the industry, including mortgage insurance firms that could lose some of their hard-fought market share gains. Industry trade groups are already turning to their friends in Congress, hoping that certain key members of the House and Senate financial service committees might have a talk with Rep. Mel Watt, the North Carolina Democrat whos waiting to be sworn in as the new director of the Federal Housing Finance Agency. The government-sponsored enterprises announced...[Includes one data chart]