The MBA helped to convince Fannie to delay the increase in mortgage fees that had been planned for March and April. This is great news for home loan rates for the first quarter of 2014! These fees would have increased rates for borrowers that do not have perfect credit scores or large down payments. With QM beginning January 2014 this would have been a big hit that the housing market does not need at this time.
Deborah Ginac/Residential Mortgage Loan Originator/NMLS#216619