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Freddie Mac to increase mortgage fees

02/03/09 22:55

Freddie Mac, in its website, announced that it will require higher fees that will raise costs for mortgage borrowers, following a similar fee increase of its main rival, Fannie Mae.
According to Freddie Mac, the fees were raised to cope with the growing risks of mortgage defaults as home prices start to drop. Among the services for which it has higher service fees are mortgage used to finance condominium units.
Link: Freddie Mac Increases Fees on Some Mortgages - WSJ.com

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