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Waters Commends FHFA Reversal of Unnecessary Trump-Era Refinance Penalty on Homeowners
Washington, DC, July 20, 2021
Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the FHFA reversal of Trump-Era refinance penalty on homeowners.
“I commend Federal Housing Finance Agency (FHFA) Acting Director Thompson for her prompt and steadfast leadership in reversing the adverse market fee on July 16th, which is estimated to save homeowners thousands of dollars in additional costs associated with refinancing and will ensure that more homeowners can fully benefit from affordable refinance options. It is my hope that struggling homeowners can soon leverage the assistance Congress provided through the Homeowner Assistance Fund in the American Rescue Plan to take full advantage of the low-interest rate environment to lower their housing costs, especially as millions of homeowners remain behind on their mortgage payments.