GINNIE MAE DROPS FEE INCREASE ON SECURITIES
The Government National Mortgage
Association has decided not to raise its guarantee fee on
mortgage securities, Louis Gasper, Ginnie Mae executive vice
president said.
    Ginnie Mae, which guarantees securities backed by Federal
Housing Administration and Veterans Administration mortgages,
had planned to raise the fee March one from six basis points to
10 basis points. Mortgage bankers strongly opposed the proposed
fee increase.
    Gasper said it became apparent Congress was ready to pass
legislation that would have rescinded the fee increase.
 Reuter
