WASHINGTON, DC--(Marketwired - Jan 8, 2014) - The following is a statement by National Association of Realtors® President Steve Brown:
"Realtors® applaud the decision by Federal Housing Finance Agency Director Mel Watt to delay increases in guarantee fees on loans purchased by Fannie Mae and Freddie Mac. In a September 2013 letter, NAR called on FHFA to refrain from changing its fee structure until completing an analysis to determine the effectiveness of its fee pricing policy at bringing private enterprise back into the market.
"We are pleased that Director Watt has agreed to halt implementation of the increases and conduct a thorough evaluation of the proposed changes and their likely impact on mortgage credit availability."
The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the "News, Blogs and Videos" tab on the website.