The Adverse Market Fee is defined as a 0.5% fee added in 2020 to refinanced mortgage loans backed by Fannie Mae and Freddie Mac (about 70% of all home loans). It was charged to lenders and usually passed on to homeowners through closing costs, as an addition to their loan amount or by a raised interest rate.
According to a July 16, 2021 press release, the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries effective August 1, 2021.
Read the Press Release here:
FHFA Eliminates Adverse Market Refinance Fee
Additional details and insights on the positive impact this will have on the real estate industry are included in the following article by MortgageNewsDaily.com
Read the article here:
Adverse Market Fee about to be History
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