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What does the FHFA’s Announcement on Refinances Actually Mean?


As a borrower considering a refinance, you may have heard some confusing, upsetting news coming from government entities Fannie Mae and Freddie Mac this week. The Federal Housing Finance Agency (FHFA), which regulates Fannie and Freddie, is imposing a new price hike of 0.5% of the loan amount on all refinances. Simply put: doing a refinance will suddenly be more expensive. When will this go into effect? Consumers starting a refinance will feel this change immediately – but we are working to combat it. 

If this announcement stands, the ongoing burden will be put on the American homeowner. Refinances for the average home in this country will become around $1,400 more expensive. In the long run, this could cost consumers billions of dollars. 

Here at Sente Mortgage, we value honesty, clarity, and doing the right thing. So to be clear, we fully oppose this decision. The announcement comes at a time when the country is battling a pandemic and a struggling economy, and while other government agencies are offering relief to communities. Borrowers experiencing the deepest economic hurt right now will be the ones most adversely affected by this sudden price change.

As your partners on the journey through every stage of homeownership, we take our responsibility to act in your best interests seriously. We are fighting this new mandate by calling and sending letters to elected officials and advocating on behalf of homeowners. We’re openly questioning how the FHFA can make a concerted decision to negatively impact consumers when our country is already in economic pain. 

In short: this is an ill-timed maneuver that hurts the average homeowner the most. While rates will still likely stay incredibly low, we cannot condone any action that puts further hardship on borrowers, especially at such a tenuous moment for our country. 

Hang tight and know we’re in your corner. If you’d like to learn more, we’d suggest starting here: 


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