Comment Detail

Comment

Gentlemen:

The G-Fee increases will only tax the buying & refinancing borrowers further. This is a tax on everyone who buys or refinances a home. Full disclosure of where the G-Fee income goes is first & foremost a priority. This really is tax with no representation. Home ownership is at a 19 year low & this is just adding to the buyers burden. I fully expect Jumbo rates to remain equal to or slightly better than conforming rates because of the present G-Fee rates.
You need to accumilate funds for a cushion in case of another housing down turn as opposed to passing on these fees to the Treasury where they are scattered to the wind. Fannie & Freddie have done a remarkable job of repaying their debt along with about 26 Billion for interest carry. It's time we stopped feeding the Monster that is the Fed & start running both agencies like any other business where you have operating reserves for a rainy day.
Any attempt to have the private sector to take over housing finance will not be something with the full faith & backing of the Federal Government will clearly result in significantly higher rates. I am a Mortgage Broker with 43 plus years in the industry.

I would welcome your sesponce to my comments.