Fannie Mae reported an increase in its effective guarantee fee rate in the first quarter, and chief financial officer Timothy Howard has suggested that lenders may continue to see upward pressure on guarantee fees.In the second quarter, Fannie Mae said its effective guarantee fee rate was 21.2 basis points, up from 20.3 in the first quarter and 18.3 in the second quarter of last year. In a conference call with analysts, Mr. Howard said Fannie Mae anticipates that the corporation's credit losses may trend upward. He said Fannie Mae's intent is to have the average guarantee fee "keep pace with changes in our average credit losses."
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