US Housing Regulators to Restructure Mortgage Fees Services

Maybe at last the housing regulators are going to do their job (instead of sitting back and doing nothing) and ensure that fees for mortgage services are regulated and controlled

This is what the Housing Regulators are promising – quote –  U.S. housing regulators said they will seek to implement a new fee system and standards for mortgage-servicing companies by the summer of 2012.

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to work with the Department of Housing and Urban Development to explore ways to improve mortgage servicing for home-loan borrowers, the agency said in a press release today.

Federal Housing Finance Agency

The irony of this report is that it is likely that Joe Public will think this news is just ‘empty promises’!

‘Nobody will believe the Housing Regulators we will all have to wait to the summer of 2012 to see whether the mortgage fees are in fact regulated!’

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