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.”
For more information visit:
All loan approvals are conditional and not guaranteed and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, loan cannot be funded. Specified rates and [products may not be available to all borrowers. Rates subject to change according to market conditions and agreed upon lock times set by borrower. Fresh Home Loan Inc. is an Equal Opportunity Mortgage Broker in California. This licensee is performing acts for which a real estate license is required. Fresh Reverse is a dba of Fresh Home Loan Inc. Fresh Home Loan, Inc. is licensed by the California Department of Real Estate #02137513 NMLS # 2124104