MBA to Meet on GSE Servicing Fees

The Mortgage Bankers Association -- which has yet to take a position on the whether Fannie Mae and Freddie Mac should slash their servicing fees -- will host a meeting on the issue Feb. 3 in Washington.At least 30 mortgage officials, including representatives from the two government-sponsored enterprises, are expected to attend the meeting, said Steve O'Conner, the MBA's vice president of government affairs. Neither Fannie nor Freddie have cut their minimum servicing fee, currently set at 25 basis points, but both are considering it. Mr. O'Conner noted that GSE officials will attend only part of the meeting, which will be a forum for both small and large mortgage bankers. "We want to get a number of perspectives on the issue, from firms both large and small," he said. (See the Jan. 24 issue of NMN and the forthcoming Jan. 31 issue for more details on the story.)