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Home » Store » Inside The GSEs » Industry Groups Rally Around Bill to Protect Guarantee-Fee Usage

Industry Groups Rally Around Bill to Protect Guarantee-Fee Usage

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Inside The GSEs

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Preventing GSE guarantee fees from being used as income for unrelated government spending has been an ongoing battle. In the latest attempt to block this from happening, more than a dozen mortgage and housing groups sent a joint letter in support of the Risk Management and Homeowner Stability Act. H.R. 916, introduced by Reps. Mark Sanford, R-SC, and Brad Sherman, D-CA, was created to stop g-fees from being tapped for non-housing programs. The Mortgage Bankers Association, Community Mortgage Lenders of America, the American Bankers Association and U.S. Mortgage Insurers are among the 14 groups that signed the letter. They argue that increasing g-fees for other purposes imposes an...
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