ALTA Asks FHFA to Clarify Proposed Rule Banning Private Transfer Fees
|April 12, 2011|
The American Land Title Association submitted a comment letter thanking the Federal Housing Finance Agency (FHTA) for its proposed rule banning the GSEs from purchasing mortgages backed by collateral that is encumbered with a private transfer fee covenant.
“ALTA strongly supports FHFA’s efforts to protect consumers by eliminating these predatory fees while protecting legitimate fees that benefit homeowners associations and appropriate nonprofits,” wrote ALTA President Anne Anastasi.
ALTA also posed a few implementation questions to the agency, including: