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The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee. The fee was designed to cover increased credit risk as a result of the COVID-19 pandemic and due to the success of Fannie Mae/Freddie Mac COVID-19 policies which reduced the impact of the pandemic, the FHFA implemented an early conclusion of the fee.
The 50-basis point fee has been eliminated on locked loans going forward; however, the fee will remain on existing locked loans in the pipeline.
Please contact CorrespondentRM@carringtonms.com with any questions.
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An Equal Housing Opportunity Lender. Copyright 2007 -
2023
. Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: www.nmlsconsumeraccess.com.
The content of this website is intended for licensed third-party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services is one of the leading wholesale mortgage lenders.
Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00