What is the adverse markets refinance fee?

What is the adverse markets refinance fee?

The adverse markets refinance fee is a fee that was imposed on the American public by the Federal Housing and Finance Agency. This is the agency that oversees mortgages, conventional mortgages specifically, across the country. What they did is they announced last week, this is August, 2020, that they were going to impose a fee on all consumers doing a conventional refinance nationwide moving forward.

What is a conventional refinance?

Conventional means a Fannie Mae or Freddie Mac loan. If you’re seeking to refinance your mortgage and you’re looking to get into a Fannie Mae or Freddie Mac mortgage, this affects you. What it  means is that it’s going to increase mortgage rates anywhere from an eighth to a quarter percent for all homeowners across the board seeking a conventional mortgage. No one is immune from this increase and it’s going to affect you.

If you would like to voice your concern over this damaging announcement, voice your concern to your state representatives by following the links below!

There are pre-made emails that you can send out to them to voice your concern over this damaging policy. Go visit these links, please, to help all of your friends, family, neighbors, your coworkers, and yourself if you’re seeking a conventional refinance to hopefully convince the government and the Federal Housing Finance Agency to overturn this decision. Give me a call if you have any questions on this or anything else and you guys have a great day.