By Doug Huggins

As I’ve reported just this week, Congress has forced Freddie Mac, Fannie Mae and HUD to increase their fees on mortgage loans to pay for the temporary (2-month) payroll tax increase.  As you read here… The payroll tax cut extension bill passed by Congress on Dec. 23 requires that GSEs charge an average g-fee in 2012 of at least 10 bps higher than in 2011. The bill also directs the GSE regulator to adjust the g-fees so all lenders pay the same fee. 

“In early 2012, FHFA will further analyze whether additional guarantee fee increases are appropriate to ensure the new requirements are being met,” DeMarco said Thursday morning.

The lawmakers relied on a 10-year increase in Fannie and Freddie g-fees to cover most of the costs of the legislation that extended the payroll tax reduction along with unemployment benefits for two months.

As a result, he Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to implement a congressionally mandated increase in their loan guarantee fees on April 1, 2012. Continue reading →