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bank of america charging borrower .5 of a point if he walks from rate lock

I have a borrwer who has a construction loan with b of a, and wants to convert to a 30 eyar fixed with me after already locking with b of a. My borrower is telling me that b of a will charge him .5% if he walks from the lock. I heard due to the new mdia laws, that is not true, they cant charge anything...

Posted to Mortgage Questions (Forum) by Martin Weekley on Fri, Aug 21 2009

Mortgage Size Surprise

Day before closing -- and I was surprised to find that a $100,000 mortgage (to choose an amount at random) actual means that the bank comes to the closing with a check for $97,000 because they withhold a certain amount for the fees. Should I have known this or is this unusual? Because the seller is paying...

Posted to Mortgage Questions (Forum) by ezra fischer on Mon, Aug 10 2009

How do I know if makes sense to pay extra points?

How do I know if makes sense to pay extra points? Is there a calculator anyone can suggest? My loan options: 1) 4.75 - 4k fees, 0 points 2) 4.50 - 4k fees, .5 point 3) 4.375 - 4k fees, 1.25 points 4) 4.75 - 4k fees, 0 point (roll all costs into loan) 5) 4.50 - 4k fees, .5 points (roll all costs into...

Posted to Mortgage Questions (Forum) by david latone on Mon, Apr 13 2009

Re: www.PROOFOFEMPLOYMENT.com A must have in EVERY BANKERS ARSONAL! How to print personalized paystubs w2 and 1099 forms to qualify for any mortgage modification refinance help!

With websites like fakepaycheckstubs.com around ANYONE CAN MAKE COMMISSIONS AGAIN! -------------------------------------------------------------------------------- This is a quote that was blogged: The people that bend the rules GET PAID! You too can bend the rules by printing out fake paystub w-2 w2...

Posted to Mortgage Questions (Forum) by liar loan on Tue, Feb 10 2009

Re: Fannie Relaxes Regs

With websites like fakepaycheckstubs.com around ANYONE CAN MAKE COMMISSIONS AGAIN! -------------------------------------------------------------------------------- This is a quote that was blogged: The people that bend the rules GET PAID! You too can bend the rules by printing out fake paystub w-2 w2...

Posted to General Mortgage Discussion (Forum) by liar loan on Tue, Feb 10 2009

www.PROOFOFEMPLOYMENT.com A must have in EVERY BANKERS ARSONAL! How to print personalized paystubs w2 and 1099 forms to qualify for any mortgage modification refinance help!

With websites like fakepaycheckstubs.com around ANYONE CAN MAKE COMMISSIONS AGAIN! -------------------------------------------------------------------------------- This is a quote that was blogged: The people that bend the rules GET PAID! You too can bend the rules by printing out fake paystub w-2 w2...

Posted to Mortgage Questions (Forum) by liar loan on Tue, Feb 10 2009

Loan was rejected by bank - am I responsible for lock fees?

I applied for a refinance with my current mortgage lender and everything was going great. Until, I lost my job in the middle of the process. I'd already got my appraisal (which came in much lower than expected anyway), and I also re-locked at a lower rate. The person at the bank did say that for...

Posted to Mortgage Questions (Forum) by Steve Colins on Wed, Feb 4 2009

Re: Title & Escrow costs in your state

I lend in 47 states, and I agree that there is a large variation on the costs of title, escrow or attorney, and other fees. Even the local recording fee can vary a lot. I've seen $65 recording in Phoenix and $250 in Boston. As for California and Washington, escrow company fees can vary by as much...

Posted to General Mortgage Discussion (Forum) by Carolyn Warren on Fri, Jan 9 2009

Re: Got to Closing for Refinance and APR Changed

Regarding your two issues: 1) The reason the APR changed is that the loan officer included certain fees in the APR calculation on your Good Faith Estimate, whereas the Final Settlement Statement is including additional fees. As long as the fees on your GFE and Final Settlement Statement match up, and...

Posted to Mortgage Questions (Forum) by Carolyn Warren on Fri, Jan 9 2009

Freddie Mac and MBA Mortgage Rates Survey Directionless

Mortgage rates were mixed for the week ending September 7 and September 8, with no definitive movement in either direction. After three weeks of declines, both Freddie Mac and the Mortgage Bankers Association (MBA) surveys saw rates up, down, and unchanged. According to Freddie Mac, the 30-year fixed...

Posted to MND NewsWire (Weblog) by Glenn Setzer on Thu, Sep 15 2005