Senior Loan Officer, Residential Finance Corp
1 year ago
What do you mean by mitigating the concerns?
I can honestly say that I have not been asked this question by any of my Realtors or borrowers and do not see it as an issue of concern. I would be willing to bet that less than 5% of buyers even know it exists.
It is a very small, conforming loan only fee and has a near non-existent impact on rates. No, it should not have been tied to mortgage rates, but it was.
All we can do is move forward and hope that the government learns to help the real estate and mortgage industries, rather than continue to dampen them.