Delays to Changes in Postsettlement Delivery Fees Announced
January 8, 2014
On December 9, 2013, the Federal Housing Finance Agency (FHFA) directed Freddie Mac to make changes to guarantee fees (Gfees) on all single-family mortgages. Today, FHFA directed Freddie Mac to delay implementation of these changes.
According to today’s FHFA press release, new FHFA Director Melvin L. Watt will be conducting an evaluation of the proposed changes and their impacts.
In the December 16, 2013, Single-Family Seller/Servicer Guide (Guide) Bulletin 2013-26, we announced changes to postsettlement delivery fees, as directed by FHFA. As a result of today’s directive, we are delaying the implementation of the postsettlement delivery fee changes. We will issue a Guide Bulletin at a later time reflecting the delay in changes to Gfees, market condition delivery fees, and indicator score/loan-to-value delivery fees. Please note, as a result of this delay, the current 25 basis points market condition fee will remain in effect.
Bulletin 2013-26 also announced changes to our buyup and buydown terms and language. These changes were not associated with the FHFA directive and their implementation will not be delayed.
Please contact your Freddie Mac representative if you have any questions.