Obama Administration Considering New Mortgage Industry Fees

President Barack Obama's administration may propose that any government backing of mortgages be funded by fees on mortgage lenders, The Wall Street Journal reported.

The administration has not come up with a final plan for mortgage entities Fannie Mae and Freddie Mac, The Wall Street Journal reported without naming its sources. Still, the consensus is that the mortgage market requires some kind of government guarantee.

Fannie, Freddie and government agencies between them currently back about 90% of new loans.

Officials want the cost of explicit guarantees to be fully offset by mortgage lenders, to prevent the guarantee adding to the federal deficit. Still, levying high fees on the industry could lead to increased borrowing costs.

Last week, Treasury Secretary Timothy Geithner said there was a "strong case" for a federal guarantee but that "the challenge is to make sure that any government guarantee is priced to cover the risk of losses, and structured to minimize taxpayer exposure."

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w.jerico

The reverse mortgage program is now enjoying some positive feedback in the news/media and I believe more will have this heart to heart with their parents and come to the same conclusion.

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July 28 2013 at 5:48 AM Report abuse rate up rate down Reply
scorchmonster777

((((((((((((((((((((((((((((((((((?)))))))))))))))))))))))))))))))))))))

August 24 2010 at 8:47 PM Report abuse rate up rate down Reply
scorchmonster777

Nite all ..!!!!!1keeep up the goood fight!!!!!!!!!!

August 24 2010 at 8:46 PM Report abuse rate up rate down Reply
scorchmonster777

SHHHHHHHHHHHH don't say Puuuuuuuuusssssssssssyyyyyyyyyyyyyyyy

August 24 2010 at 8:45 PM Report abuse rate up rate down Reply
scorchmonster777

Barry ,,,,,,,,,,,please bring back AirFarce 1 ,,,we have to fix some stuff on it.It automatically blows up when you say "I love American *****" , and I want a nice Muslim girl now!,,,,,,,,Please don't tell Michelle !!!!

August 24 2010 at 8:43 PM Report abuse +2 rate up rate down Reply
scorchmonster777

Sorry ,,in my Opinion ....Barry Soetoro sucks ,,,Hes trying to pull the Ol . leave my Muslim Brothers alone!!!!!!........He Lied to Pelosi ! he said he was going to wash her nipples! ..............

August 24 2010 at 8:37 PM Report abuse rate up rate down Reply
scorchmonster777

Tell Obama that we aren't putting up with his Muslim Ways !!!!!!!!!!!!

August 24 2010 at 8:27 PM Report abuse +1 rate up rate down Reply
scorchmonster777

COME ON AMERICA!

August 24 2010 at 8:26 PM Report abuse +1 rate up rate down Reply
scorchmonster777

I'm sorry ,but this administration has their heads screwed on backwards, say goodbye to the small businesses across America. Fee on top of the Fee on top of the Fee,want a loan? Somebody find a real leader, must have prior business experience in running at least a lemonade stand,all other need not apply.

August 24 2010 at 3:08 PM Report abuse +2 rate up rate down Reply
thomasva6

...and then our muslim crooned a leon russell tune "i'm gonna sing a little song of looove for you one more time"

August 24 2010 at 3:05 PM Report abuse +2 rate up rate down Reply