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 October 29, 2025 Fannie Mae Reports Net Income of $3.9 Billion for Third Quarter 2025 October 27, 2025 In Case You Missed It: Policy Updates October 21, 2025 UAD 3.6 and Forms Redesign: Inspection and Reporting Tips