By Kenneth R. Harney | Los Angeles Times
When you’re raking in tens of billions of dollars in profits by helping credit-elite borrowers buy homes, couldn’t you lighten up on fees a little for everyday folks who’d also like to buy?
That’s a question increasingly being posed to government-controlled home mortgage giants Fannie Mae and Freddie Mac and their federal regulators.
Though most buyers are unaware of the practice, Fannie and Freddie — by far the largest sources of mortgage money in the country — continue to charge punitive, recession-era fees that can add thousands of dollars to consumers’ financing costs. This is despite the fact that the companies are enjoying record profits, low delinquency rates and rising home values, plus are protecting themselves from most losses with insurance policies paid for by consumers.
