Reflecting pressure from the housing industry and affordable-housing groups to drop guarantee and delivery fees, Freddie Mac yesterday defended current rates on grounds that its CRT transactions show that agency fees are generally comparable to those demanded by private-sector risk-takers, with the possible exception of HLTV transactions (where agency fees may be lower than private investors would demand). In short, no subsidy for CRT and no reason to drop fees, which are of course a key GSE earnings driver.
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