Saturday, December 15, 2007

Fannie Mae Increases Fees For New Mortgages

The cost of new mortgages is going up as Fannie Mae has added a new up-front charge to the loans they purchase or guarantee.

It looks like the cost of lending is starting to be felt by the consumers as the lending institutions try to reclaim some of their losses. Smart business and the consumer will not notice too much if rates continue to drop. It will make it harder for originators as they will have another fee to work into their loan package.

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source: therealestatebloggers.com

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