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Trade associations urge Congress not to tap G-fees
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A host of more than 30 industry trade associations, including the Mortgage Bankers Association and National Association of Realtors, wrote congressional leaders to urge them not to tap into guarantee fees from Fannie Mae and Freddie Mac during appropriations work as a source of funding offsets.
“As representatives of institutions that span the entire housing finance ecosystem, we firmly believe that G-fees should only be used as originally intended: as a critical risk management tool to protect against potential mortgage credit losses,” the associations wrote.
Read on for more details from the letter.
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