Mortgage industry stakeholders say a new 50 basis point fee on some Fannie Mae and Freddie Mac securities runs counter to the premise of a uniform mortgage backed security.
It’s a “money grab,” said one industry analyst, who requested anonymity to stay on good terms with the government sponsored enterprises, who together back the majority of the single-family mortgage market.
Stakeholders argue this policy will damage the uniform mortgage backed security process, which allows two companies, Fannie Mae and Freddie Mac, to issue a common security composed of separate single securities. Multiple analysts, former FHFA details ⇒
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