The nice thing about having my own Blog is that I can share my opinion, thoughts, and information, not only with consumers, but also with my peers. REALTORS across the country are taking action on the topic below that has been shared for weeks. Are you one of those REALTORS?
The House of Representatives Transportation and Infrastructure Committee is considering legislation to reauthorize surface transportation programs.
One proposal would use Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund transportation programs.
What is a Guarantee Fee (G-Fee)?
- GSE guarantee fees are charged by Freddie Mac and Fannie Mae to lenders for bundling, selling, and guaranteeing the payment of principal and interest on their Mortgage Backed Securities. These fees are passed on to mortgage seekers by the lender and add to the cost of obtaining a mortgage.
NAR strongly believes that taking g-fees would also prevent Fannie Mae and Freddie Mac from effectively managing their risk.
I strongly urge any REALTOR who has not taken action on this issue to do so TODAY. Plus, get yourself set up with the alerts on future issues.
Take action now to prevent Congress from placing an unnecessary long-term burden on American homeowners!
Happy Thanksgiving. Mike
Mike Bowler Sr. CRB, ePRO, GRI, SRES, PMN
Coldwell Banker Hubbell BriarWood