2012-04-03 — housingwire.com
The FHFA eased several rules last November under a revamped Home Affordable Refinancing Program... In a letter sent Friday, the lawmakers suggested doing even more. They cited suggestions in a recent Federal Reserve white paper that would remove the remaining upfront fees where Fannie and Freddie already hold the credit risk.
They asked the FHFA to make it easier for borrowers with more than 20% equity in their home to refinance.
Lawmakers also asked to reduce more rep and warranty risk "in order to remove disincentives for servicers to refinance."
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