Tag Archives: mortgage fees

New Limits On Mortgage Fees

Mortgage pros make their money from the ignorance of those who aren’t in the mortgage industry. It is in the pros interest to keep mortgages as complicated as possible and filled with as many mysterious fees as possible. I’m a … Continue reading

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Fannie Mae Increases Mortgage Fees

Nobody is exempt from these new risk fees, not even those with great credit scores and monster down payments. Freddie Mac laid out new fees to lenders just before Thanksgiving. These new fees will only cool an already icy housing … Continue reading

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Fannie Mae Raises Interest Rates

Bloomberg reports (and this is a superb summary of what I watched on the TV this morning, more of that following): Mortgage rates for 30-year U.S. loans jumped to a seven-month high, increasing borrowing costs for homebuyers as the real … Continue reading

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Three Types Of Mortgage Fees

Carolyn Warren writes in her book Mortgage Rip-Offs: There are fees you should not pay, fees you may negotiate, fees that are required. Here are fees you should not pay: Administrative fees, application fees, appraisal review fee, ancillary fee, courier … Continue reading

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How To Destroy The Economy

Report: Low interest rates make borrowed money cheap for everyone from homebuyers to banks. Low interest rates also meant that homebuyers could take on larger mortgages, which supported rising prices. In the originate-to-own model, the mortgage lender — which can … Continue reading

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Few Options Beyond The FHA

From the AP: To slow its financial decline, the mortgage finance giant slashed its dividend to 5 cents a share from 35 cents a share and said it will eliminate loans for borrowers with solid credit scores, but little proof … Continue reading

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Fannie Mae Lifts Mortgage Fees

Aug. 5 (Bloomberg) — Fannie Mae, the largest U.S. mortgage- finance company, will raise a fee it charges lenders to buy their mortgages or guarantee home-loan securities, a move that may increase costs for borrowers. The latest fee increase will … Continue reading

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Five Mortgage Fees To Watch Out For

From SmartMoney: Application Fees Just because the ad says "no application fee" doesn’t mean there’s no fee at the time you submit a mortgage application, warns Holden Lewis, senior reporter for Bankrate.com5 (RATE6). "Each lender gives different names to its … Continue reading

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Avoiding Mortgage Fees

From fool.co.uk: Especially because, with the credit crunch hitting mortgage lenders hard, rates are going up. For all these reasons, fee-free mortgage deals seem very attractive right now. Are you better off going for a deal with a high fee … Continue reading

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UK Mortgage Lenders Ripping You Off

Jane Baker writes: Not only are mortgage rates rising, but lenders are demanding even higher deposits. And — as if that wasn’t bad enough — rip-off mortgage fees are really rubbing salt in the wounds. What Is A Higher Lending … Continue reading

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