The Trump administration has not only proposed extending the existing g-fee surcharge, but recommends doubling it. Not to be outdone, both Democratic presidential candidates, former Vice-President Joe Biden and Sen. Bernie Sanders, D-VT, also support raising g-fees.
The FHFA in September increased the cap on Fannie’s and Freddie’s multifamily lending to $100 billion each through the end of 2020, with at least 37.5% of their business earmarked for affordable housing.
Among the more interesting changes: the FHFA, for the first time ever, is asking GSE customers to hold capital against the dollar amount of Ginnie Mae mortgages they service: 35 basis points.
Loans that qualify for purchase by the GSEs will continue to be exempt from the 43% debt-to-income ratio cap. This development was not unexpected. In July, the CFPB said it would consider a short extension.
Federal regulators have issued a request for comment on a review of credit risk-retention standards tied to the qualified mortgage “patch” and exemptions for community-focused and three- to four-unit mortgages.
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