20-51: Adverse Market Refinance Fee Delayed
The Federal Housing Finance Agency (FHFA) today announced a delay to the implementation date of their Adverse Market Refinance Fee until December 1, 2020.
As a result, we will be removing the 50 bps pricing adjustment from loans previously locked that were impacted by the FHFA refinance fee, including:
- Bulk loans locked on or after 8/13 where the 50 basis point fee was applied
- Best Effort loans locked on or after 8/13 where the 50 basis points fee was applied
- Best Effort loans that were extended or relocked where the 50 basis point fee was applied as per Announcement 20-47. Further, we are rescinding Announcement 20-47 effective immediately.
Please contact your Sales Representative with any questions.