Big-league housing groups, including the Mortgage Bankers Association and the National Association of Realtors, warned senators not to use the g-fee as “the nation’s piggybank.”
As the first Senate-confirmed head of domestic finance in nearly a decade, the former Fed economist could play a vital role in renegotiating the PSPAs between Treasury and FHFA.
Fannie and Freddie are likely to have raked in more than $5 billion combined in adverse market fees on refinances before FHFA Acting Director Sandra Thompson decided to shut the program.
Changes to Fannie’s loan agreements allow the company to more closely monitor compliance with OFAC rules and anti-money laundering and anti-corruption statutes.
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