Fannie Mae Plan to Raise Housing Finance Costs Highlights Need for Congressional...

Fannie Mae Plan to Raise Housing Finance Costs Highlights Need forCongressional ActionWASHINGTON, Dec. 7 /PRNewswire-USNewswire/ -- In response to Fannie Mae'sannounced plan to impose an "Adverse Market Delivery Charge" for all mortgagespurchased after March 1, 2008, National Association of Home Builders (NAHB)Executive Vice President and CEO Jerry Howard today issued the followingstatement:"Fannie Mae's new fee is a broad tax on homeownership that ultimately will bepassed along to consumers. It's certain to be more difficult for the housingmarket to regain its footing when steps are being taken to drive up mortgagecosts. This is the exact opposite of what needs to be done and underscores theimportance of Congress quickly enacting legislation that would strengthenregulatory oversight of government-sponsored enterprises (GSEs) Fannie Mae andFreddie Mac while also preserving their vital housing mission.