they paid about $2500 on each refinance, or they are paying approximately $33 (in rate) for a tax they do not get credit for?
Back in the "great recession" two of the major conduits, Fannie and Freddie were put under government control, to right the ship and make sure our housing did not collapse further. Adverse marketing fees were added, as were "loan level pricing adjustments." Over the years, Fannie and Freddie have become
cash cows for the government. And just recently, on the backs of anyone that refinanced since last August, these two GOVERNMENT agencies (that's sarcasm, but the government never passed them back to private stockholders and continues to act as conservators) continued to rake in the dough.
I normally do quote other loan officers in a public forum, but I agree with this one, word for word. We need to get the Federal Housing Finance Agency out of the business of lending. AT&T was dismantled for being a stronghold on the telephone market..........isn't this the same thing? I would say complain to your representatives in Congress, but I think they enjoy the money too much, it will fall on deaf ears.
https://www.sgvtribune.com/2021/02/1...se-market-fee/
<rant off>
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