FHFA Issues Notice of Proposed Rulemaking on Private Transfer Fees: Send Copies of Your Comments to CRE

News provided by

Center for Regulatory Effectiveness

Feb 02, 2011, 07:37 ET

WASHINGTON, Feb. 2, 2011 /PRNewswire/ -- The Federal Home Financing Agency (FHFA) plans to issue a proposed rule regarding private transfer fees.  FHFA incorporated the following CRE core recommendations into the proposed rule:

  1. If FHFA is to regulate private transfer fees, then it should do so by issuing a rule rather than guidance.
  2. Any regulation issued by FHFA should include a carve out exception for private transfer fees that directly benefit the encumbered property.

CRE also commends FHFA for listening to the many voices expressing their concern on CRE's interactive public docket (IPD) for private transfer fees.  CRE invites FHFA to continue to review the CRE's IPD on transfer fees.

CRE requests the public to post the comments they send to the FHFA on the IPD at http://www.thecre.com/tForum/.  

SOURCE Center for Regulatory Effectiveness

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