WASHINGTON—The Federal Housing Finance Agency (FHFA) has announced targeted changes to Fannie Mae and Freddie Mac’s pricing framework, saying it is eliminating upfront fees for certain borrowers and affordable mortgage products.
In addition, the agency has published a new uniform appraisal dataset (UAD), in conjunction with new UAD Aggregate Statistics Dashboards, on its website to provide user-friendly visualization of the newly available data, NAFCU reported.
The Fee Eliminations
Regarding the changes to the pricing framework, the FHFA announced it is eliminating fees for:
- First-time homebuyers at or below 100% of the area median income in most of the country, and below 120% of area median income in high-cost areas
- Borrowers of the HomeReady and Home Possible programs, Fannie Mae and Freddie Mac’s flagship affordable mortgage programs
- HFA Advantage and HFA Preferred loans single-family loans supporting the Duty to Serve program
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