I have a question about fees?
It appeared to be unreasonably high but I wanted to check.....On Good faith estimate the loan originator stated the following figures to be charged by him/his bank (in addition to credit report fee): 1. Application Fee $4952. Underwriting fee $7953. Document review fee $225Other details: Local MD lender, primary residence, no origination points, 20% down, conventional financing.Will someone please chime in and shed light on these charges? Thank you!!! PS I understand these fees always differ from lender to lender, that is why I want to know whether they're reasonable (in your opinion)Thanks again by halliec3 from Nashville, Tennessee. Jul 6th 2011
Steve Sexton (steve@1800valoans.com)
#36 ranked lender in Washington - 23 contributions
They are junk fees, IMO. It would be worth your while to shop around. I am sure you can do better. Contact me at steve@1800valoans.com or 877-376-0223 if you have any other questions. Thanks, Steve
Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions
Good gracious that is absurd- for example my processing fees are $495, underwriting $599, no aplication fee- these are junk fees as the other lender stated you definitley want to shop around or at least pick someone else to compare numbers as you will see you are getting ripped.
Todd Tholl (toddtholl@leader1.com)
#4 ranked lender in Iowa - 239 contributions
Run as fast as you can away from this company. My lender fees are $1200!!!
Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions
first of all, what loan size are you doing? also, most lenders do not charge a application fee. underwriting fee should be between $$250 ad $400 . call me at 602-330-1598 lindaforloans@live.com i have been a compliance officer as well as a orginator... linda
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