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Realtors® Praise FHFA for Banning Private Transfer Fees

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WASHINGTON (March 16, 2012)  – The following is a statement by National Association of Realtors® President Moe Veissi:

“As the leading advocate for homeownership and housing issues, NAR applauds the Federal Housing Finance Agency for issuing a final rule to restrict Fannie Mae, Freddie Mac and the Federal Home Loan Banks from investing in mortgages encumbered by private transfer fee covenants.

“NAR has long been vocal in its opposition to private transfer fees since there is virtually no oversight on where or how fee proceeds can be spent, on how long a… Read More

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