NAMB Calls for Full Disclosure of Increased G-fees on New TRID Forms


Washington, D.C. – July 23, 2015 – NAMB – the Association of Mortgage Professionals, is calling on Congress to require the Consumer Financial Protection Bureau (CFPB) to include a new line item clearly stating the hidden cost of G-fees on the soon to be required TRID forms. Fannie Mae and Freddie Mac guarantee fees, commonly referred to as G-fees, are not readily detectable by consumers in their mortgage documents since they are incorporated into the underlying rates paid by borrowers. The new TILA/RESPA, or TRID, forms will be required during all home sales beginning October 3, 2015.

“Consumers deserve to know that a portion of the cost of financing a new home will be used by increased federal ‘G-fees’ used to finance highway legislation and other federal spending not directly related to homeownership,” said John Councilman, President of NAMB. “We oppose proposed increases in G-fees and we especially oppose their use in financing highway legislation, or any other legislation, that doesn’t directly benefit the homebuyer.”

“In the spirit of full transparency on behalf of consumers involved in the home buying process,” added Councilman, “we’re asking Congress to require that the new TRID forms being used by CFPB contain a specific line item showing homebuyers exactly how much of their home purchase costs are in fact fees that in no way benefit them and are unrelated to the home purchase itself.”

NAMB and other mortgage and housing groups have spoken out in opposition this week to increased G-fees as a “pay for” to cover the costs of the Omnibus Highway Bill under consideration in the U.S. Senate. Originally enacted in 2011 and set to expire in 2021, the increased G-fees have essentially become a hidden tax on consumers being used to pay for federal programs unrelated to homeownership, according to NAMB.

“Congress should require the CFPB to disclose the costs of G-fees to consumers buying homes,” said Councilman, “the CFPB should not start their ‘Know Before You Owe’ program with hidden fees even if those fees are government taxes.”


About NAMB – The Association of Mortgage Professionals:
Since 1973, NAMB-The Association of Mortgage Professionals has been the voice of the mortgage broker and mortgage loan originator industry, representing the interests of mortgage professionals and homebuyers. Its mission is to promote the highest degree of professionalism and ethical standards for members through programs and services such as education, professional certification and government affairs representation. In addition, NAMB members subscribe to a specific code of ethics and best lending practices that foster integrity, professionalism and confidentiality when working with consumers. For more information, visit Follow NAMB @NAMBpros

Media Contact:
Name: John Councilman, CMC, CRMS
Title: President
Phone: 239-267-2400
Email address:

Name: John H. P. Hudson, CRMS
Title: Communications Chair
Phone: 817-247-4766
Email address:

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