Bulletin 2021-071 Removal of Adverse Market Fee

Removal of Adverse Market Fee

Newrez LLC "Newrez" Approved Correspondent Clients: The Federal Housing Finance Agency announced on Friday, July 16, 2021 that it was eliminating the Adverse Market Refinance Fee (the Fee) effective with August 1 deliveries.


As such, Newrez removed the fee on all new locks effective on and after July 16, 2021.


In addition, the fee will be reduced to 25 bps on any Best Effort loan delivered on or before July 19, 2021 and purchased by Newrez on or after July, 19, 2021. The fee will not be assessed on any Best Efforts loan delivered after July 19, 2021.   Newrez will also reduce the fee to 25 bps on all Mandatory Commitment loans purchased on or after July 19, 2021 if the fee was originally assessed.