Excessive Assumption Fees Charged on Federal Home Loan Mortgage Corporation Mortgages

In response to a congressional request, GAO investigated the fees, points, and other charges levied by lenders on mortgages sold to the Federal Home Loan Mortgage Corporation to determine: (1) the pervasiveness of overcharges; (2) the reasons why Corporation auditors did not uncover excessive fees charged by lenders; (3) the feasibility of establishing a flat fee or some regulation of the assumption fee; and (4) the adequacy of Corporation oversight and enforcement policies regarding overcharges by savings and loan associations.