August 26, 2020

FHFA delays refi price increase, but not for long.

Aug. 26, 2020 - According to yesterday’s Federal Housing Finance Agency press release, the Fannie Mae and Freddie Mac Adverse Market Refinance Fee originally scheduled to take effect September 1 has been delayed until December 1. The new time frame may not seem very urgent, but the additional fee will be applied to rate locks as early as September and October.

To avoid additional loan costs, refinance borrowers are encouraged to get their applications in and provide documentation as soon as possible. This will allow the Boles Group lending team enough time to lock in the application and rate prior to the fast-approaching deadlines.

With September right around the corner, and deadlines on the horizon, all members of the Boles Group lending team are working as hard as they can to process applications as quickly as possible. If you have questions, please email bolesgroup@bayeq.com and we will do our best to respond within 24 hours.

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Bay Equity Home Loans – Boles Group is a team of lending professionals located in Gilbert, Arizona and licensed to originate home loans for purchase or refinance in nine states (AZ, CA, CO, ID, MN, NM, NV, OR, WA). Boles Group lending professionals have the knowledge and experience to create solutions where other lenders create problems. The team prides itself on responsive, accurate communication and is highly regarded by clients and business associates alike.