August 24, 2014

FHFA extends g-fee comment deadline to Sept. 8

July 30, 2014 – The Federal Housing Finance Agency extended its deadline for its request for input on guarantee fees, or g-fees, from Aug. 4 until Sept 8.

As part of the FHFA investigation into changes to g-fees charged, FHFA is seeking comments on consequences of a potential increase in the fees of 10 basis points across the board, adjustment of up-front fees for borrowers in different risk categories and elimination of the 25-basis-points adverse market charge. NAFCU is against raising the g-fees and is submitting comments to the agency on behalf of its members.

When fee increases were first entertained last year, NAFCU objected strongly, noting concerns that g-fee hikes would push up borrower costs and slow lending. FHFA Director Mel Watt later withdrew the proposal for further evaluation.

Earlier this year, NAFCU joined with other trade groups in urging lawmakers not to use g-fees to extend emergency unemployment compensation.