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|User Info||"Hidden" mortgage fee paying for payroll tax cut; entered at 2012-02-06 17:42:08|
Registered: 2008-09-09 Portland OR
Actually, I think this is a big deal and part of a pattern. Passing new taxes or tax increases is hard - perhaps even impossible given the dysfunctional senate. But pasting a new fee on GSE loans, why that's not a tax, generating the ire of Tea Party activists, its a "user fee." BS. The money is not earmarked to go to a trust fund for FHFA to offset the risks of guarantees, which would be a legitimate way to backstop the GSEs. It goes into the general fund, where it could fund anything Congress desires. And, when the GSEs start taking non-conforming loans again, or stretches the meaning of conforming loans to infinity, guess who'll be on the hook for those guarantees? Madness, pure madness.