During the pandemic last year the Federal Housing Finance Agency (FHFA) had imposed costly mortgage refinance fees, which it is eliminating.

The Adverse Market Refinance Fee cost 50 basis points, and the lenders were required to pay Fannie Mae and Freddie mac this amount for each such loan delivered.

Both the government-sponsored enterprises (GSEs) guarantee, packages, and sells mortgages under the FHFA umbrella.

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