Huge Mortgage Refinance Fee by Freddie Mae & Fannie Mac Rocks Industry | Seattle Real Estate Podcast

Fannie Mae and Freddie Mac's surprise new fee roils industry and consumer advocates. The government-controlled mortgage companies recently announced that they will levy a 0.5 percent fee on refinance loans they purchase starting on Sept. 1, 2020.

So on a $500,000 loan, this would add an additional $2,500 refinance fee that the consumer would ultimately end up absorbing.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

#mortgage #update

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