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Article: Will Fannie Slash Servicing Fee?(Federal National Mortgage Association)
- Article from:
- Mortgage Servicing News
- Article date:
- February 1, 2005
- Author:
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Washington -- Fannie Mae could be moving closer to slashing its minimum servicing fee, industry executives told Mortgage Servicing News.
If Fannie does in fact cut its servicing fee (currently set at 25 basis points), it's expected that Freddie Mac would quickly follow suit.
At press time, both GSEs had declined to comment. However, key players in the mortgage industry - including top seller/servicers and trade group officials - were set to meet here in early February to discuss the issue.
One Midwestern-based Fannie Mae seller/servicer told MSN that there is "serious momentum" at the GSE to slash its minimum fee by one-eighth (13 basis ...