Fannie Mae Plan To Raise Housing Finance Costs
In response to Fannie Mae’s announced plan to impose an “Adverse Market Delivery Charge” for all mortgages purchased after March 1, 2008, National Association of Home Builders (NAHB) Executive Vice President and CEO Jerry Howard today issued the following statement:“Fannie Mae’s new fee is a broad tax on homeownership that ultimately will be passed along to consumers. It’s certain to be more difficult for the housing market to regain its footing when steps are being taken to drive up mortgage costs. This is the exact opposite of what needs to be done and underscores the importance of Congress quickly enacting legislation that would strengthen regulatory oversight of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac while also preserving their vital housing mission.