MBA Letter to HUD on FHA Multifamily Loans Fees and Cost
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The Mortgage Bankers Association (MBA) agrees and believes in fairness and transparency in fees charged to consumers. We also believe that these same burdens are placed on renters today by unnecessarily high fees charged by HUD to developers and providers of housing. These costs result in fewer units being developed and higher rents for tenants. Not only are the costs of HUD loans more than the private market and those charged by Fannie Mae and Freddie Mac (the GSEs), but together, these costs are far higher than are needed to cover the risk to the American taxpayer.
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