Fannie Mae and Freddie Mac to gradually increase fees

Fannie Mae and Freddie Mac are striving to make the mortgage market more competitive by raising fees they charge to lenders, according to Edward DeMarco, acting director of the Federal Housing Finance Agency. Mr. DeMarco also addressed the government's efforts to overhaul housing finance amid a fragile housing market. "We all knew that reforming the housing-finance system was going to be difficult, but I think the general expectation was that more progress would have been made by now," Mr. DeMarco said.

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