​The Housing and Economic Recovery Act of 2008  requires that FHFA submit annual reports to Congress on the guarantee fees charged by the Enterprises.   The Act requires an analysis of fees by product type, risk class, and the volume of a lender’s business.  The report must also analyze the costs of providing the guarantee and provide a comparison to the prior year.  FHFA issued the first report in 2009.

Among the major findings of this report covering guarantee fees charged in 2013 are:

• Overall guarantee fees have increased gradually since 2009.  From 2009 to 2013, fees increased from 22 basis points to 51 basis points.  From 2012 to 2013, fees increased from 36 basis points to 51 basis points.
  
• The difference in gaps between 15- and 30-year fixed-rate loans has been substantially reduced. 
  
• Pricing differences between small sellers and large sellers have been substantially reduced, while the percentage of loans that the Enterprises purchase from small lenders has substantially grown.  
  

FHFA published a Request for Input  in June 2014 seeking public input on a number of questions related to guarantee fee policy and implementation.  The input period ended on September 8, 2014, and FHFA is currently in the process of reviewing the comments, which can be reviewed on our website at https://www.fhfa.gov/AboutUs/Contact/Pages/input-submissions.aspx​.​

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