Guarantee fees drop for mortgages in several riskier categories: FHFA

Freddie provides a guarantee for the senior-most bonds (which generally receive a AAA rating based solely on the quality of the underlying collateral, and not based on the freddie mac guarantee), but the riskier junior and first-loss bonds (generally totaling about 20% for fixed rate and 10% for floating rate deals).

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substantial losses equal to several times their historic capital levels. Such higher capital requirements, had they been met, would had to have been accompanied by higher prices or guarantee fees as well in order to generate sufficient returns on that capital. If applied broadly to the mortgage market, the countercyclical capital regime could have

Before the end of this year, Fannie Mae and Freddie Mac will raise guarantee fees (g-fees) on single-family mortgages by an average of 10 basis points. When the GSEs provide mortgage-backed securities (MBS), they guarantee the payment of principal and interest on the securities and charge a g-fee for the guarantee.

FHFA, which regulates Fannie Mae and Freddie Mac , is proposing to increase guarantee fees for mortgages in Connecticut, Florida, Illinois, New Jersey, and New York, stating that laws and procedures enacted in those states have extended the foreclosure process and increased the costs of foreclosure on Fannie Mae and Freddie Mac.

Increase the fee that is charged for a federal guarantee that mortgages will be repaid if they are included in bonds issued by Fannie Mae and Freddie Mac, and use that money to repay taxpayers for.

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