USDA Update Guarantee fee raised

USDA Extension Update

The House of Representatives passed a bill extending the USDA housing program.  The bill raises the guarantee fee to 3.5% (from 2%).  Last week, Barney Frank, Chairman of the House Financial Services Committee (and Chris Cordry's uncle) , mentioned that conversations were underway with the Senate and was hopeful that the extension could be completed before funding expired in early May.