New research shows, in some instances, lenders passed on to borrowers as much as 120% of the cost of the fee, which ended in July 2021.

The former FHFA director claims that Wall Street critics worried his policies would cut into their profits.

An OIG report finds the GSEs’ expected cost from pandemic-related forbearances has climbed about 30% in the past year.

Historic home price appreciation and record low interest rates helped Fannie and Freddie increase income and cut costs. (Includes data chart.)

The mortgage giant’s $3.6 billion profit for the second quarter benefited by as much as $1 billion in revenue from the controversial adverse market refinance fee.

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.

Fannie and Freddie raked in billions of dollars from the loan-level price adjustment before FHFA pulled the plug last week. Are more Calabria-era rules on the chopping block?

FHFA says it has not “extended” the fee because it never announced an end date. Nevertheless, it will review the financial situation in October.

Despite soaring profits, Fannie and Freddie continue to levy a 50-basis-point fee on nearly all refis to pay for the cost of COVID-19.