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In 2020, FHFA made homeowners pay an extra fee if they refinance, but that fee will go away after Aug. 1 \u2013 part of a new focus to help owners keep their property.<\/span><\/span><\/p>\n<\/div>\n WASHINGTON \u2013 Federal Housing Finance Agency (FHFA) Acting Director Sandra Thompson announced on July 16 that Fannie Mae and Freddie Mac will no longer assess a 50 basis point fee on lenders when they deliver refinanced mortgages after Aug. 1.<\/span><\/span><\/p>\n The agency\u2019s scrapping of the adverse market fee is Thompson\u2019s first rescission of a Trump-era policy since she took charge of FHFA last month.<\/span><\/span><\/p>\n Ex-FHFA Director Mark Calabria required the mortgage lending giants to impose the temporary fee in September 2020, stating it was a way to recoup projected losses from COVID-19.<\/span><\/span><\/p>\n \u201cThe COVID-19 pandemic financially exacerbated America\u2019s affordable housing crisis,\u201d Thompson said. \u201cEliminating the Adverse Market Refinance Fee will help families take advantage of the low-rate environment to save more money. Today\u2019s action furthers FHFA\u2019s priority of supporting affordable housing while simultaneously protecting the safety and soundness of the enterprises.\u201d<\/span><\/span><\/p>\n Thompson is expected to roll back several policies led by Calabria, who wanted to curb risk in Fannie and Freddie\u2019s portfolios and shrink their market presence.<\/span><\/span><\/p>\n\n