Fannie Mae, Freddie Mac Increase Fees, Toughen Rules

The affect this has on San Diego regarding the increased lender fees  is counter-productive in what the new administration is trying to accomplish in stimulating the economy.  These companies are telling us that we’re going to be penalized whether someone’s credit score are 699 + with 20% down.  Given the mandatory PMI on down payment less than 20%, the lender is at no greater risk.  Someone with a good credit score of 700+ with a great job/income and a 20% down payment shouldn’t have to worry about such fees.  How is this going to affect San Diego Real Estate Agents?  San Diego is one of the hard hit area in the country.   Consumers are hesitant in purchasing a property despite the low interest rates and decreasing home value.  By increasing this fees,  San Diego Realtors is yet again hit with another road blocks.  Real estate is one of the big driving forces in the economy.  Are we trying to stimulate the economy?

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