Home Single-Family News Center Lender Letter LL-2020-12 – New Adverse Market Refinance Fee September 24, 2020 Lender Letter LL-2020-12 – New Adverse Market Refinance Fee This Lender Letter provides information about a new adverse market refinance fee (loan-level price adjustment) that will apply to most refinances. Download announcement Recent News August 13, 2025 Announcement SVC-2025-05 – Servicing Guide Update August 6, 2025 Announcement SEL-2025-06: Selling Guide Updates July 30, 2025 Fannie Mae Reports Net Income of $3.3 Billion for Second Quarter 2025