Despite early criticism of Senate plans to use the 10-basis-point g-fee to help pay for a bipartisan infrastructure bill, industry groups have been more muted since the text of the bill became public.
Big-league housing groups, including the Mortgage Bankers Association and the National Association of Realtors, warned senators not to use the g-fee as “the nation’s piggybank.”
As the first Senate-confirmed head of domestic finance in nearly a decade, the former Fed economist could play a vital role in renegotiating the PSPAs between Treasury and FHFA.
Fannie and Freddie are likely to have raked in more than $5 billion combined in adverse market fees on refinances before FHFA Acting Director Sandra Thompson decided to shut the program.