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ABA: The American Bankers Association
Statement

ABA Statement on Elimination of FHFA Adverse Market Fee

ABA welcomes today’s announcement from Acting FHFA Director Sandra Thompson that the agency will eliminate the 50-basis point Adverse Market Fee for mortgage refinance loans effective August 1. 

The elimination of this fee will improve the affordability and availability of credit for borrowers, and ultimately help those seeking to refinance into lower rate loans and improve their financial condition as the country continues to recover from the COVID-19 pandemic. ABA and its members appreciate FHFA’s willingness to hear the concerns raised by ABA and others and to take action which will greatly benefit our nation’s struggling homeowners.

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $22.5 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $18 trillion in deposits and extend nearly $11 trillion in loans.

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