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Mortgage rates will rise thanks to the G-fee

from HSH Financial News Blog

The FHA's financial struggles are well documented, and the recently announced increase to the FHA's mortgage insurance premiums is an attempt to bolster the loan insurer's depleted reserves. Fannie Mae and Freddie Mac have also found a way to increase their profits and better shield themselves from risk. The GSEs are raising a mortgage fee you may have never heard of before or even seen before on your Good Faith Estimate or other mortgage documentation. Until now, this "hidden" fee was only really known by those in the industry; it's called the guarantee fee, or G-fee. more

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