Fannie Mae & Freddie Mac Pandemic Upcharge Fee Dropped
The Federal Housing Finance Agency announced Friday that a 50 basis point fee added to all home loans delivered to Fannie Mae and Freddie Mac will be dropped. The fee was instituted during the past year to cover projected pandemic losses, and it was passed on to borrowers by mortgage lenders in the form of higher home mortgage interest rates. The elimination of the fee will lead to slightly lower home mortgage loan payments for borrowers.
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