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Frank Ceizyk
Loan Officer/Sales Manager,  Advisors Mortgage Group
1411 Highway 35
Ocean,  New Jersey  33041
"It's a slippery slope. If the deduction is cut now, it could be part of a gradual shift to try to get rid of it all together. Given that home buyers are just beginning to trust homeownership's value again, and could actually benefit from a slightly higher deduction to offset rising interest rates, this seems ill timed. Will be interesting to see if the industry can lobby this away."    View Comment
"BTW Jann--this is a GREAT article, and should help originators see where consumers need the most help understanding the actual costs of buying a home. Ted also makes a good point about the lack of actual title fee "choice"--it is truly non-existent in the real world of purchase loans that the buyer gets to pick the title insurance agent--yet there is still a 10% tolerance cap on 3rd party vendor fees imposed on mortgage companies, ensuring in many cases that the initial fees for title may..."    View Comment
"This really isn't surprising at all. In a purchase market the relationships in many cases are driven by direct referral from a real estate agent, and the borrowers just assume the referral partner will give them all the information. If the Loan Officer has the high standards that many of the LOs that post on this site do, they do their due diligence and educate the borrowerabout the costs from day one, taking time to explain what each one is, how it works, and a longer term discussion about how..."    View Comment
"Kevco1--what is ridiculous to me is continuing to do the same thing and expect different results. There should be a more forensic way of analyzing values that involved a broader analysis of economic conditions rather than just the closed sales of transactions mostly negotiated by real estate sales people under pressure to hit sales quotas. Why the hell would anyone want to be an appraiser under the current ridiculous system--if recent trends in the shrinking number of professional appraisers are..."    View Comment
"aybe the opinion of value is an outdated mechanism for establishing value to support a mortgage financed transaction. It seems that the role of the appraiser should be more of a data verification function—verify the square footage all the representations being made about upgrades, make sure the property is built according to standards that are acceptable to building codes, and then let an algorithm that tracks not only closed sales, but economic trends in the area—employment rates, income levels..."    View Comment
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