CHLA has proposed two policy requests to congressional leaders concerning mortgage fees. They demand the rescission of a recent 10 basis point increase on GSE-backed loans and caution against any further increases to VA and GSE mortgage fees. They assert that any fee increases should be based solely on actuarial risk or safety considerations. The organization warns that raising mortgage fees, especially during challenging economic times, disproportionately affects young families striving for homeownership, and they call for the repeal of unrelated spending fees.
Congress should reject this approach and instead repeal the existing 10 basis point fee on Fannie/Freddie loans that is used for unrelated spending.
Such fee hikes harm working and middle-class Americans, especially young families just starting out economically with the dream of homeownership.
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