The Federal Housing Finance Agency (FHFA) announced Tuesday, August 25, 2020, that it would delay the implementation of the 50 basis points Adverse Market Refinance Fee until December 1, 2020. The fee was previously scheduled to take effect on September 1, 2020 and applied to Fannie Mae and Freddie Mac refinance transactions
As a result of the FHFA announcement Homebridge has temporarily removed the 50 bps fee from our rate sheet and will automatically credit the fee back to all applicable locks in the pipeline.
Homebridge will advise Brokers if the FHFA makes any additional changes to their new implementation date and/or fee.
If you have any questions, please contact your Account Executive.