NY, Conn., Ill. AGs Push FHFA To Nix Guarantee Fee Proposal

Law360, New York (November 26, 2012, 8:21 PM EST) -- The state attorneys general of Illinois, Connecticut and New York on Monday urged the Federal Housing Finance Agency to nix a proposal to increase lenders’ guarantee fees on mortgages in five states, saying the plan hurts homeowners with higher interest rates and fewer legal protections.

In a letter to FHFA Acting Director Edward J. DeMarco, Illinois Attorney General Lisa Madigan, Connecticut Attorney General George Jepsen and New York Attorney General Eric Schneiderman said the agency’s proposal was a “poorly conceived assault on federalist principles and on...
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