NAR President Testifies Before Congress on New Mortgage Fees

NAR 2023 President Kenny Parcell testified Wednesday before the House Committee on Financial Services Subcommittee on Housing and Insurance about the Federal Housing Finance Agency's (FHFA) new loan level pricing adjustments (LLPA) fee increase on borrowers with fair to good credit profiles. Parcell said the fees were unnecessary and confusing, and potential homebuyers face a lack of affordability and supply in the current housing market. Learn more.