Mortgage Fee Changes Under Fire As Critics Cite Fairness

By KIMBERLEY HAAS Changes to fees for loans backed by Fannie Mae and Freddie Mac are under scrutiny after recent reports that homebuyers with good credit scores and substantial down payments will pay more starting May 1. Last week, The Washington Times published an article with the headline “Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages.” Author Dave Boyer, a White House correspondent, wrote that although the changes are part of the Federal Housing Finance Agency’s push to make housing more affordable, they will negatively impact traditional borrowers. “Mortgage industry specialists say homebuyers with credit scores of 680 or higher will pay, for example, about $40 per month more on a home loan of $400,000. Homebuyers who…