Fannie Mae issued Lender Letter LL-2021-13 to announce the elimination of the adverse market refinance fee. The adverse market refinance fee is currently charged in the form of a 50 basis points (0.500%) loan-level price adjustment when a refinanced mortgage is delivered to Fannie Mae. Per the Lender Letter, Fannie Mae will no longer assess the adverse market refinance fee for whole loans purchased on or after August, 1, 2021 and for loans delivered into MBS pools with issue dates on or after August 1, 2021.
Click to view the Fannie Mae Lender Letter LL-2021-13: https://www.tenaco.com/wp-content/uploads/2021/07/Fannie-Mae-Lender-Letter-LL-2021-13-07-16-21.pdf
