The Federal Housing Finance Agency introduced new upfront fees on Wednesday for some high-balance and second-home loans sold to Fannie Mae and Freddie Mac.
Upfront fees for high balance loans will increase between 0.25% and 0.75%, tiered by loan-to-value ratio. For second home loans, the upfront fees will increase between 1.125% and 3.875%, also tiered by loan-to-value ratio.
The new pricing framework will take effect April 1, 2022, to “minimize market and pipeline disruption,” the agency said in a press release.
Loans in some affordable programs — including HomeReady, Home Possible, HFA Preferred and HFA Advantage — will not be subject to the details ⇒
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