Take Action Now!
Take action to urge Congress to contact FHFA and the GSEs and insist they reverse this misguided action which is contrary to all the actions that the administration, Congress, the U.S. Treasury, and regulators have taken to support the economy and American families.
Step 1: If you need to look up who your Congressman is, click here.
Step 2: Click on your Congressman's name (below) to contact him or her.
Step 3: In the "Text of Message" field, paste in the following:
The recent directive by FHFA flies in the face of current efforts by policymakers to support homeowners as they struggle through the COVID-19 pandemic. Requiring Fannie Mae and Freddie Mac to charge a 0.5% fee on refinanced mortgages they purchase will raise interest rates on families trying to make ends meet in these challenging times, meaning the average consumer will be paying $1,400 more than they otherwise would have. Even worse, the September 1 effective date means that thousands of borrowers who did not lock in their rates could face unanticipated cost increases just days from closing.
Congress needs to weigh in with the FHFA to roll back this deeply misguided policy. Please ask your Senators and Representative to contact FHFA Director Calabria and the CEOs of the GSEs and insist that they immediately withdraw this deeply misguided directive.