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 8, 2025 Announcement SEL-2025-08: Selling Guide Updates October 1, 2025 Lender Letter LL-2025-03 Impact of Federal Government Shutdown September 30, 2025 Understand Top Defects to Help Strengthen Loan Quality