Freddie and Fannie Can Earn a Profit, Right? And their Double-secret "High Risk" Watch List of 300 lenders

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Posted To: Pipeline Press

"Rob, I'm a new LO in Connecticut. What's the scoop on this news about loans in my state being more expensive than others for home loans?" Under the FHFA's proposal, Fannie & Freddie would hike fees between 15 and 30 basis points on lenders in Connecticut, Florida, Illinois, New Jersey, and New York. During a foreclosure those states apparently have considerably longer time frames to obtain marketable title than the national average as well as costs that range between 9 and 18 percentage points above the national average. State specific pricing , especially for aggregator's servicing released premiums, have been around a long time. (In fact, it is not hard to remember the days when newspapers would publish the average rates in different areas of the U.S., rather than a national average...(read more)

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Source: www.mortgagenewsdaily.com

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