G-fee hike to slow NY prepays

G-fee hike to slow NY prepays

Category: RMBS

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The FHFA is seeking to increase GSE guarantee fees for single-family mortgages that they acquire in five states - Illinois, Connecticut, Florida, New Jersey and New York. Such state level pricing not only marks a change from the desire to smooth out regional differences in mortgage pricing, but also indicates that certain local factors - such as foreclosure timelines - could play a role in determining borrowing costs for otherwise perfectly creditworthy borrowers.

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