Lenders Add Bigger Fannie, Freddie Fee – Thanks to Payroll Tax Cut

Lenders are already adding an increase in fees on mortgages backed by Fannie Mae, Freddie Mac and the Federal Housing Administration to new loans – a hike that will pay for the extension of the payroll tax cut. The fee increase of 0.1 of a percentage point is to be added to all loans that Fannie and Freddie buy from April 1 to Oct. 1, 2021.

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Calif., Fla. Led in Homebuyer Tax Credits Claimed in FY 2009

During the first nine months of 2009, there were 479,622 claims filed and granted for the first-time homebuyer tax credit, led by California, Florida and Texas, reported the Internal Revenue Service in its newly-released data book for fiscal year 2009. The claims amounted to $3.58 billion in credits, the IRS data shows. California and Florida, two of the hardest hit states in the ongoing foreclosure crisis, accounted for 22 percent, or nearly one quarter, of the total first-time homebuyer tax credits.

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