GMFS is excited to share the latest news from the FHFA.

The Federal Housing Finance Agency (FHFA) announced today, May 10, 2023, that it has rescinded the upfront fees based on borrowers’ DTI ratios for loans acquired by Fannie Mae and Freddie Mac.

Read the full announcement here: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Rescission-of-Enterprise-Upfront-Fees-Based-on-Debt-To-Income-Ratio.aspx

GMFS has removed the adjustment from our pricing effective today, May 10th. The fee will be manually removed from any locks that were charged the fee from our announcement last week.

If you have any questions, please contact the [email protected]