How does the new FHFA high balance conventional fee actually work?

Strangely, I’ve seen no mention of this since the initial press release about it back in January. Has this actually kicked in? If so, what is the effect? Let’s assume a hypothetical $900k house purchase with 20% down in a HCOL area. Are these upfront fees to be paid at closing (which is how I read it, but I could be wrong)? Is it a rate increase? Is it something that can be rolled into the loan?

Agents/brokers: How has this affected the market and/or your clients, if at all?

submitted by /u/VadGTI
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Strangely, I’ve seen no mention of this since the initial press release about it back in January. Has this actually kicked in? If so, what is the effect? Let’s assume a hypothetical $900k house purchase with 20% down in a HCOL area. Are these upfront fees to be paid at closing (which is how I read it, but I could be wrong)? Is it a rate increase? Is it something that can be rolled into the loan? Agents/brokers: How has this affected the market and/or your clients, if at all? submitted by /u/VadGTI [link] [comments]

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