The Federal Housing Finance Agency (FHFA), which oversees Freddie Mac and Fannie Mae programs, announced a little over a week ago that they are doing away with the Debt-to-Income Ratio based fee slated to go into effect this August. Under the proposed fee program, borrowers whose house payment and other debts combined exceeded 40% of their monthly gross income would be charged a 0.375% fee on their loan amount.
We were super happy to see that fee go away, as it was going to make it that much more difficult for lower-income borrowers to afford a home.