With the release late Friday of Chairman Crapo’s letter to FHFA, the GSEs’ refi fee announcement has taken fire from a high-impact Senate Republican along with Ranking Member Brown and HFSC Democrats. This is sometimes hard to ignore. Crapo’s intervention thus makes it a bit more viable for the phalanx of fee opponents to press legislative repeal, but the most likely concession is delay in effective date to allow lenders to close locked-in loans without additional cost.
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