There is a new Bill floating around geared to Keep the G-Fee Profits for Housing ONLY. We think it’s a good idea.
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Fannie & Freddie, Loan Products
New Bill to Keep the G-Fee Profits for Housing ONLY
admin - Thursday February 9, 2017
We have a 5/5 ARM which is 5 year first adjustment and 5 year for subsequent adjustments. Similar caps of 2 pct. on 1st adjustment and 6 pct. for life of loan. Are you sure Navy Fed’s describes a 5 point margin?
On the G-Fee you have about 3000 employees who’s retirement with Fannie Mae was a stock ownership plan. The government has effectively stripped the retirement of those employees when they took away the ability for Fannie stock price to rise without retaining any earnings.
Great point.. G-Fee is a silent TAX on all homeowners and Mortgage professionals and yet the money is squandered away.. This would be a great bill to pass. Hey let’s steal from peter to pay Paul.. Maybe Trump can help? 😉 lol..
G-Fees should just go away. It’s just another hidden tax on borrowers making rates artificially higher than they otherwise would be. It’s like the gas surcharge airlines added to their airfares when oil prices were high. (That’s also when the airlines started charging for baggage and food.) Oil prices fell and these fees never went away. The G-fee is no different. It was put in place at a time when these agencies, due to their incompetence, needed to beef-up their revenues to increase their solvency. Now, with record profits and tons of money, G-Fees just need to go away!
Totally agree with eliminating or decreasing G-Fee. The G-fee was increased to pay for spending outside of housing, which is just another tax to the American homebuyer. Most voters don’t realize when a fee is increased on any area by the government, it really means consumers will pay. Politicians make the uninformed think the agency or business will dig into their margins to pay. It won’t work that way. It will be passed on to consumers. If we can eliminate this stupid spending, lets eliminate or reduce the G-fee so it will lower rates for consumers. That is way to spur homeownership.
please loose the background music