January 8, 2008
Lenders have raised prices on home loans in preparation of fee hikes by Fannie Mae and Freddie Mac.
Raphael Bostic, associate director of USC's Lusk Center for Real Estate, said fees hitting folks borrowing more than 70 percent of the value of a home seem rather "strict" and he would have expected the value to be set at 90 percent or more. In an email, he wrote that the new rule suggests that Fannie and Freddie anticipate "significant price declines" for homes.