Crapo Presses Refi-Fee Timing
Following criticism of the move from both Senate Banking Ranking Member Brown (D-OH) and HFSC Chairwoman Waters (D-CA), Senate Banking Chairman Crapo (R-ID) late Friday demanded from FHFA Director Calabria more information on the GSE refi fee announced late last week.  Chairman Crapo does not lambaste the fee as Democrats did, instead asking why the GSEs requested the fee, how it was sized, and why it is to take effect on September 1.  He also requests FHFA’s assessment of the impact of the price increase and asks if marketplace disruptions could be minimized with adjustments to the fee’s timing.