The National Association of Homebuilders came out swinging against a proposal by Fannie Mae to impose a new upfront charge tied to declining market conditions on all loans it purchases. Housing Wire first broke the story yesterday, covering the details behind the plan. NAHB executive vice president and CEO Jerry Howard had scathing words for the so-called 'adverse market delivery charge' being imposed on lenders by the GSE, saying "the new fee is a broad tax on homeownership that ultimately will be passed along to consumers." Howard said driving up mortgage costs in the current housing downturn was "certain" to make it "more difficult for the housing market to regain its footing." "This is the exact opposite of what needs to be done and underscores the importance of Congress quickly enacting legislation that would strengthen regulatory oversight of government-sponsored enterprises Fannie Mae and Freddie Mac while also preserving their vital housing mission," said Howard, who characterized the fee as a move to ensure Fannie met a 30 percent minimum capital surcharge imposed on it by the Office of Federal Housing Enterprise Oversight. “This is like a mini perfect storm created by Congress's inability to pass meaningful GSE reform and OFHEO's regulatory inflexibility in a time of crisis," Howard said. “This is no time for Fannie Mae's business interests to take precedence over its mission responsibility." For more information, visit