Remember that 10 basis point increase in g-fees that will pay for the payroll tax break (at least until February 28)? Well, guess what? It appears that some lenders and secondary market investors are hiking their rates a lot more than 10 bps, or so we're told. One mortgage analyst, requesting his name not be used, sent to National Mortgage News a list of lenders and the extra bp charges that he has seen. The hikes range from 50 bps to 62. Stay tuned. And by the way: this tax is not being paid by Fannie Mae and Freddie Mac or their seller/servicers. It's being passed onto the borrower. (Duh.) Didn't a ton of Republicans sign Grover Norquist's pledge not to raise taxes? Grover, give me a call.
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