NAR leads a coalition call for a GSE fee reduction

On June 22, NAR, along with 24 other organizations, sent a letter to Federal Housing Finance Agency Director Mel Watt urging him to eliminate or reduce loan level price adjustments (LLPAs) by Fannie Mae and Freddie Mac. This was an outstanding joint effort by consumer and industry groups, many of whom continue to collaborate on broader housing finance reform. The coalition raised concerns with the GSEs double-charging consumers for assumed credit losses and capital levels that are already being assumed by existing g-fees and private mortgage insurance coverage. More on this can be found here.