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I just started reading about junk fees. Our broker has an underwriting fee of $595 listed and from what I've read so far about junk fees, "mortgagelenders do not undwrite loans. Lenders underwrite loans so brokers should not be charging borrowers for underwriting a loan." I am going to to see if I can get this eliminated or reduced. Does
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Our broker is charging us a .875 (designated as broker origination fee on his GFE and designated as a loan origination fee on Countrywide's GFE) for a 4.65 refinancing with Countrywide and a $550 processing fee. There was no "application fee." Our broker's Good Faith Estimate shows on line 811 an "underwriting fee" of $595
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Thank you both so much for your replies. I feel much more confident now. We are just fortunate that our broker called us about this rate, although we missed a 4.3% by two hours!!
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We bought our house this past March with a 5.75% interest rate. We were contacted by our mortgage broker two weeks ago that we could get a 4.625% interest rate with .825 points with Countrywide. I expressed concern to our broker about Countrywide and he advised that the problems they were having were due to the subprime market and that a lot of those