On July 16th, 2021 the FHFA announced they are removing something we complained about in August – the FHFA adverse Market fee.
Basically, a 50 basis point charge, that was announced out of the blue last summer, to consumers looking to refinance when we were experiencing the lowest interest rate hugest refinance boom ever.
Long story short it’s cheaper to refinance now. I am a mortgage broker in California, feel free to get q quote at freshhomeloan.com
They called it the adverse market because due to due to “increased costs and risk” to the agency as a result of Covid-19.
We just talked about Sandra Thompson replacing Mark Calabria, she went on to say
“The COVID-19 pandemic financially exacerbated America’s affordable housing crisis. Eliminating the Adverse Market Refinance Fee will help families take advantage of the low-rate environment to save more money,”
“Today’s action furthers FHFA’s priority of supporting affordable housing while simultaneously protecting the safety and soundness of the Enterprises.”
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