Likely looking to build its capital base, Fannie Mae (FNM: 11.54 -15.15%) on Monday announced that it was doubling its so-called adverse market delivery charge on all loans it purchases from 25 to 50 basis points — a fee that HW’s sources said is likely to be passed on to consumers by already-strapped lenders, with some caveats. The new fee structure will become effective October 1, and applies to all loans sold to the GSE.
Fannie’s adverse market fee, and a similar fee levied by sister GSE Freddie Mac (FRE: 6.75 -16.04%) (called a market condition delivery fee), have come under fire from various industry groups since they were first introduced last year.
