NAHREP issues joint statement urging FHFA to reverse directive on GSEs’ Adverse Market Fee
NAHREP joins a broad coalition of organizations representing the housing, financial services industries as well as consumer groups in issuing a joint statement urging an immediate reversal of the Government Sponsored Enterprises’ announcement requiring an additional 50 basis point increase on all GSE-backed refinances effective September 1. Not only does this announcement conflict with the Administration’s recent executive actions urging federal agencies to take all measures within their authority to support struggling homeowners, but the additional fee will be particularly harmful for low- and moderate-income homeowners, first time homeowners and borrowers of color. Now is not the time.