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Article: OMB Moves Away from Ginnie Mae Fee Increase.
- Article from:
- National Mortgage News
- Article date:
- December 27, 1999
- Author:
CopyrightCOPYRIGHT 1999 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Washington--The Office of Management and Budget appears to be backing away from a budget proposal that would raise the Ginnie Mae guarantee fee by 2 basis points.
"We are encouraged by what we are hearing," said Paul Reid, executive vice president of the Mortgage Bankers Association. "It would lead us to believe that it is not going to be in the budget," he added. Other sources also indicated that a Ginnie Mae fee increase is off the table, but no one is willing to say the proposal is dead.
"We will be relieved when we see the budget," said MBA senior staff vice president Robert O'Toole. "But we are less concerned now than we were three weeks ago," he ...