Fannie Mae Cancels Fee Hike for New Mortgages

Los Angeles Times (10/03/08)
Fannie Mae had planned to hike its adverse market delivery charge for new mortgages to 0.5 percent of the loan amount starting on Nov. 1, but the company announced that the fee will hold steady at 0.25 percent. The housing downturn and resulting mortgage losses prompted Fannie Mae to institute the charge in late 2007. Fannie Mae CEO Herbert Allison Jr. says the decision was the result of an assessment of the company's "risk management, underwriting guidelines, pricing and costs."