Gfee Reductions for Certain Mortgages Impacted by Hurricane Sandy
November 13, 2012
As we continue to look for ways to extend relief to homeowners affected by Hurricane Sandy and help lenders whose businesses may be impacted, we are delaying the implementation of the scheduled December 1, 2012, increase in our base guarantee fees (Gfees) for certain mortgages we purchase.
On Friday, November 9, 2012, Freddie Mac issued a press release announcing that, after consultation with the Federal Housing Finance Agency, Freddie Mac will delay implementation of announced base Gfee increases for certain mortgages sold through our Guarantor and MultiLender Swap program. These mortgages must meet specific requirements, including being secured by properties located in eligible disaster areas as a result of Hurricane Sandy and having Settlement Dates no later than March 31, 2013.