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Fannie Mae Increasing Mortgage Fees
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Fannie Mae Increasing Mortgage Fees
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Fannie Mae Increasing Mortgage Fees

January 18, 2011 (Jeff Alan)
mortgage-fees-image
If you’re considering purchasing a home or refinancing a home in 2011, be prepared to pay higher mortgage fees, even if you have an excellent credit score and a large down payment. Things will be even worse for borrowers with lower credit scores and small down payments.

Following the lead of fellow mortgage giant, Freddie Mac, Fannie announced in a memo to lenders in its network that it had decided to impose a new schedule of higher add-on fees.

Critic’s view these new fees as a way for the two federal financial corporations to infuse more cash into their coffers in light of the massive loses they have sustained since the beginning of the financial crisis.

Freddie Mac and Fannie Mae have required massive federal financial infusions, estimated at close to $150 billion, since the housing market began deteriorating, and they now operate under a federal conservatorship arrangement. Economists expect that it will take billions more to keep the two institutions solvent.

But meanwhile, Fannie and Freddie continue to fund or guarantee upward of two-thirds of new mortgage originations. Because of their sheer size and market dominance, they play pivotal roles in determining whether — and how fast — the housing market can rebound.

The new fees aren’t scheduled to start until this spring. Potential buyers who have high credit scores and hefty down payments are expected to be surprised that even they are being targeted for higher “risk-based” fees.

As an example of how the new fees will affect potential buyers:

If you wanted to buy a house that requires a $300,000 mortgage, you have an impressive FICO score (above 800), and cash for a down payment of just less than 25%, Fannie now plans to charge an extra quarter of a percentage point of the loan amount, $750, to do the deal.

For those with a FICO score of 679, new fees could be about $1,500 on that $300,000 mortgage. Ouch!

Tags: mortgage loans, mortgage refinancing, credit scores, down payment, freddie mac, fannie mae, mortgage originations, mortgage borrowers, FICO score

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

January 18, 2011 (Jeff Alan)
mortgage-fees-image
If you’re considering purchasing a home or refinancing a home in 2011, be prepared to pay higher mortgage fees, even if you have an excellent credit score and a large down payment. Things will be even worse for borrowers with lower credit scores and small down payments.

Following the lead of fellow mortgage giant, Freddie Mac, Fannie announced in a memo to lenders in its network that it had decided to impose a new schedule of higher add-on fees.

Critic’s view these new fees as a way for the two federal financial corporations to infuse more cash into their coffers in light of the massive loses they have sustained since the beginning of the financial crisis.

Freddie Mac and Fannie Mae have required massive federal financial infusions, estimated at close to $150 billion, since the housing market began deteriorating, and they now operate under a federal conservatorship arrangement. Economists expect that it will take billions more to keep the two institutions solvent.

But meanwhile, Fannie and Freddie continue to fund or guarantee upward of two-thirds of new mortgage originations. Because of their sheer size and market dominance, they play pivotal roles in determining whether — and how fast — the housing market can rebound.

The new fees aren’t scheduled to start until this spring. Potential buyers who have high credit scores and hefty down payments are expected to be surprised that even they are being targeted for higher “risk-based” fees.

As an example of how the new fees will affect potential buyers:

If you wanted to buy a house that requires a $300,000 mortgage, you have an impressive FICO score (above 800), and cash for a down payment of just less than 25%, Fannie now plans to charge an extra quarter of a percentage point of the loan amount, $750, to do the deal.

For those with a FICO score of 679, new fees could be about $1,500 on that $300,000 mortgage. Ouch!

Tags: mortgage loans, mortgage refinancing, credit scores, down payment, freddie mac, fannie mae, mortgage originations, mortgage borrowers, FICO score

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

January 18, 2011 (Jeff Alan)
mortgage-fees-image
If you’re considering purchasing a home or refinancing a home in 2011, be prepared to pay higher mortgage fees, even if you have an excellent credit score and a large down payment. Things will be even worse for borrowers with lower credit scores and small down payments.

Following the lead of fellow mortgage giant, Freddie Mac, Fannie announced in a memo to lenders in its network that it had decided to impose a new schedule of higher add-on fees.

Critic’s view these new fees as a way for the two federal financial corporations to infuse more cash into their coffers in light of the massive loses they have sustained since the beginning of the financial crisis.

Freddie Mac and Fannie Mae have required massive federal financial infusions, estimated at close to $150 billion, since the housing market began deteriorating, and they now operate under a federal conservatorship arrangement. Economists expect that it will take billions more to keep the two institutions solvent.

But meanwhile, Fannie and Freddie continue to fund or guarantee upward of two-thirds of new mortgage originations. Because of their sheer size and market dominance, they play pivotal roles in determining whether — and how fast — the housing market can rebound.

The new fees aren’t scheduled to start until this spring. Potential buyers who have high credit scores and hefty down payments are expected to be surprised that even they are being targeted for higher “risk-based” fees.

As an example of how the new fees will affect potential buyers:

If you wanted to buy a house that requires a $300,000 mortgage, you have an impressive FICO score (above 800), and cash for a down payment of just less than 25%, Fannie now plans to charge an extra quarter of a percentage point of the loan amount, $750, to do the deal.

For those with a FICO score of 679, new fees could be about $1,500 on that $300,000 mortgage. Ouch!

Tags: mortgage loans, mortgage refinancing, credit scores, down payment, freddie mac, fannie mae, mortgage originations, mortgage borrowers, FICO score

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

LoanRateUpdate

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