Vacant building fees to be paid ‘under protest’

While the Federal Housing Finance Agency and Chicago battle in court over the city’s vacant property ordinance, Fannie Mae has decided to more directly involve mortgage servicers in protesting the new rules.

On Wednesday, Fannie Mae notified mortgage servicers that, beginning May 1, when they register Fannie Mae-backed vacant properties with the city and make any payments, they must communicate in writing that the payment is being made “under protest.” The communication, Fannie Mae said, “must note that the Federal Housing Finance Agency determined that the registration fee does not apply to Fannie Mae, and that the registration fee therefore is paid under protest. Read the full article here.