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Freddie Announces Mortgage Fee

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Freddie Announces Mortgage Fee

 
Freddie Mac announced on its Web site this morning a 0.25% fee on mortgages it acquires under contracts with settlement dates on or after March 9.
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On a $400,000 mortgage, these new charges mean an extra $1,000 in fees, almost certain to be passed on to the consumer. In addition, Fannie and Freddie recently imposed surcharges for mortgage borrowers with credit scores below 680, on the standard scale of 300 to 850, who are borrowing more than 70% of the home's value.
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