The implementation of a loan refinancing fee, recently announced to take effect Sept 1, has been delayed to not go into effect until Dec 1, 2020. This fee is a result of the ongoing pandemic and will add a 0.5% surcharge onto many Fannie and Freddie backed mortgages that are refinanced into lower rates.
It was also announced that low-balance refinances are exempt, as well as homeowners refinancing mortgage loan balances below $125,000.
Read more details here.
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