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Fannie, Freddie to hold 'g-fees' for mortgages at current levels

(Adds details about G-Fees and PMIERS)

WASHINGTON, April 17 (Reuters) - The regulator of Fannie Mae and Freddie Mac has directed the U.S. housing finance firms to tweak their structure for guarantee fees but said the changes would be "revenue neutral," after launching a review to consider whether to alter the program.

The Federal Housing Finance Agency (FHFA) said on Friday that Fannie and Freddie will lower guarantee fees for some borrowers and raise them for others.

Separately, the government-owned enterprises also issued new guidelines for private mortgage insurers.

To keep the guarantee fee program's revenues "neutral", the agency will cut fees for some risky borrowers and offset them by hiking fees for others, including those for investment properties, refinancings, loans with second liens, jumbo and other kinds of loans.

The revised fees go into effect on Sept. 1. The agency also said it would direct Fannie and Freddie to eliminate the adverse market charge it put in place in March 2008.

FHFA said it will continue to monitor guarantee fees closely and make adjustments as necessary.

Fannie Mae and Freddie Mac also issued revised requirements for private mortgage insurance companies that insure mortgage loans either owned or guaranteed by them. The new requirements set financial and operational standards for private mortgage insurers and are meant to reduce risk for Fannie and Freddie.

(For more click on: http://bit.ly/1Jcau43)

(Reporting by Michael Flaherty; Editing by Meredith Mazzilli)