Higher G-fees in 2012

Loan officers will have some unpleasant news for their customers in 2012: the cost to obtain a new government-backed mortgage will be rising.

 

In late December Congress passed a short-term extension of the payroll tax cut, financing it with a 10 basis point hike in Fannie Mae and Freddie Mac guarantee fees.

 

Those fees will be charged to mortgage firms, which in turn are expected  to pass the cost onto homebuyers and mortgagors seeking to refinance.

 

The payroll tax bill (H.R. 3630) signed by President Obama is expected to generate $35 billion over 10 years. The money collected will go to the U.S. Treasury Department and will not repay the government for bailing out the two GSEs.

所有跟帖： 

• A few people asked whether the rates will be higher in 2012 -CALoanAgent- ♂ (432 bytes) () 12/27/2011 postreply 12:15:26

• bad news to us... Thanks for sharing. -SunshineInCA- ♀ (0 bytes) () 12/27/2011 postreply 12:23:01

• Marginal impact though -beachlver- ♂ (0 bytes) () 12/27/2011 postreply 13:44:09

• 我说的是转嫁的办法会越来越多，中产很辛苦。 -SunshineInCA- ♀ (0 bytes) () 12/27/2011 postreply 15:30:55

• That's why you want to grow to critical mass level -beachlver- ♂ (64 bytes) () 12/27/2011 postreply 15:58:17