Fannie Mae hits borrowers with more fees

Fannie Mae, the mortgage investor sponsored by the federal government,
added a .25 percent up-front charge on new mortgages that it buys or
guarantees, which could affect even creditworthy and prudent borrowers.
Freddie Mac is expected to follow with a similar move. The .25 percent
fee would apply to loans sold to Fannie or combined into pools of
guaranteed loans backing mortgage securities as of March 1. Fannie and
Freddie imposed surcharges last month for borrowers with credit scores
below 680 and those borrowing more than 70 percent of a property’s
value.