Urgent Rate Notice for Fannie Mae and Freddie Mac

Tuesday, January 10, 2012

Pursuant to the Temporary Payroll Tax Cut Continuation Act of 2011, the Federal Housing Finance Agency (FHFA) has imposed a mandatory price increase which will be paid for by increasing the fees charged to mortgage lenders by Government Sponsored Entities (GSE) such as Fannie Mae and Freddie Mac.

What does this mean to you?

Beginning today, January 10, 2012, our Investors have imposed an across the board price hike that impacts rates and lock extensions. We are anticipating an estimated rate increase of 0.125%. PrimeLending has made the decision to not apply these changes until Thursday January 12, 2012 to allow pipeline review and locks at current pricing.