``The report does not say how much Fannie might have overpaid, only that the company should not be paying more than what its boilerplate contracts with banks dictate. The inspector general found that while these contracts allow for a breakup payment of twice the annual fees a bank would collect to "service" a loan, Fannie has paid on average 2.3 times that amount in order to quickly close the transactions and forestall a bank from marketing those servicing rights on its own. ''

Comments: Be the first to add a comment

add a comment | go to forum thread