Las Vegas, NV -- (SBWIRE) -- 12/10/2013 -- Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) announced that it will increase the fees that the mortgage lenders have to pay. The company says that it is a strategy to inspire private entities to avail the services in the housing finance market.
FNMA is likely to increase the guarantee fees for new loans. The company’s services will become more costly for lenders that want state-owned firms to support their loans.
The company’s Acting Director Edward DeMarco says that a rise in fee may affect the size and influence of company in the market.
Federal National Mortgage Association is US government-sponsored business that wires liquidity and strength in secondary mortgage market. FNMA operates on market liquidity achieved by securitizing mortgage loans in the primary mortgage market. It purchases mortgage loans and securities for its portfolio.
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