New FHFA Head Delays Fannie, Freddie Fee Hike

Law360, New York (January 8, 2014, 3:51 PM EST) -- Just days after being sworn in, new Federal Housing Finance Agency Director Melvin L. Watt on Wednesday announced the agency would review a planned increase in guarantee fees Fannie Mae and Freddie Mac charge to back new mortgages, delaying the hike from taking effect.

In a statement, Watt said that the FHFA would do a “thorough evaluation” of the effects the proposed increase in so-called g-fees would have on the housing market and would provide four months' notice before implementing any changes. Watt also directed Fannie...
To view the full article, register now.