GSE Waives Delivery Fees New Refi Program

Freddie Mac servicers will only have to pay a 25 basis point "delivery" fee when refinancing loans under the new "Home Affordable Refinance" program mandated by the Treasury Department."We have waived all the delivery fees with the one minor exception — the across-the-board market conditions fee," said Freddie spokesman Brad German. Freddie charges the 25 bp market conditions fee on all loans it purchases from lenders. Fannie Mae has similar 25 bp fee. Fannie has not waived its delivery fees for Home Affordable refinancings. However, the GSE will allow borrowers to roll the closing costs into the new loan. They can also shop around for the best refinancing deal offered by Fannie seller/servicers. Freddie allows borrowers to roll $2,500 of closing costs into new loan, but only if they refinance through their current servicer.