2012-10-02mortgagenewsdaily.com

``Due to the FHFA's decision to increase g-fees, US Bank is levying extension fees on all fixed and adjustable rate Freddie Mac and Fannie Mae products. All 20- 30-, and 35-year loans requiring extensions that were locked before September 12th and that do not close and fund before October 12th will be subject to the current extension fee plus 50bps, while all such 10- and 15-year loans will be subject to the current fee plus 20 bps. Loans that fail to close and fund by the deadline will incur deficiency fees as well if the seller doesn't clear any funding deficiencies within seven calendar days of being notified.''


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