All Posts Tagged With: "fee"
FHA Mortgage Insurance Premium To Rise In 2012
Borrowers will pay more to get an FHA loan in 2012. The much-heralded payroll tax cut worked out by Congress will also raise the cost of an FHA mortgage by at least .2 percent and probably more in 2012. Think of it as a back-door tax increase. While the public was watching the payroll debate [...]
3Jan2012 | Peter G. Miller | 1 comment | Continued
Firms Accused of Fleecing VA Mortgage Borrowers
Thirteen lenders — including Wells Fargo, JP Morgan Chase and Bank of America — allegedly collected illegal fees worth millions of dollars from VA borrowers. In hundreds of thousands of VA refinancing transactions, the lenders allegedly charged an additional $300 to $1,000 per loan, according to claims made in a lawsuit by two whistleblowers. In [...]
6Oct2011 | Chris Birk | 0 comments | Continued
VA Waives Funding Fee Gap for Mortgage Borrowers, Lenders
Some last-minute confusion regarding legislative changes to VA loan fees has left some lenders and prospective homeowners scrambling for clarity with home closings on the line. But the Department of Veterans Affairs sought to calm fears over the weekend, pledging to cover additional costs while waiting for President Obama to act on a bill that [...]
5Oct2011 | Chris Birk | 3 comments | Continued
When To Tell Your Mortgage Lender To Take A Hike
If you’ve been getting strange calls from your mortgage lender demanding payment, don’t be so quick to reach for your checkbook — such calls could be nothing but efforts to get money before it’s due. Or they could be outright frauds, a form of identity theft. Let me explain: I have a mortgage which is [...]
16Apr2010 | Peter G. Miller | 0 comments | Continued
Real Estate Brokers Versus Salespeople — What’s The Difference?
A “broker” can be seen as someone licensed by the state and who works for another and for a fee. In effect, a broker is an “agent– who works for a “principal,– say a buyer or seller. As an agent, a real estate broker must uphold certain duties and obligations or his or her license [...]
21Nov2009 | Peter G. Miller | 0 comments | Continued
Appraisers Seek Sensible Reform
There’s been considerable debate regarding the Home Valuation Code of Conduct (HVCC), the agreement to curb appraisal abuses worked out between New York Attorney General Andrew Cuomo, Fannie Mae, Freddie Mac and their then regulator, the Office of Federal Housing Enterprise Oversight (OFHEO). A number of leading real estate and lending trade associations are seeking [...]
14Jul2009 | Peter G. Miller | 0 comments | Continued
Mortgage Fees Rise As Interest Rates Fall
You have likely notices that mortgage rates have sunk into the 5 percent range with some loans being offered for even less. Now we find out that loan rates might actually be lower except that lenders have upped their fees. The information below from the federal government shows that in March fees and charges rose [...]
30Apr2009 | Peter G. Miller | 0 comments | Continued
The Case For Flexible Real Estate Commissions
Isn’t it time to change real estate agreements — to make them better for buyers, sellers and brokers? Syndicated columnist Peter G. Miller explains.
17Feb2009 | Peter G. Miller | 0 comments | Continued
10 Questions To Ask Every Empoyment Agency
What should you expect from an employment agency? It’s not an easy question because employment agencies offer a variety of services to a variety of job seekers and a range of businesses. Some agencies specialize in entry-level positions or in given professions. Others are generalists. Also, of course, there is the question of whether or [...]
2Jan2009 | Peter G. Miller | 0 comments | Continued
How does an ARM conversion program work?
Many ARMs come with conversion programs. For a fee, say $250 to $500, you can convert to a fixed-rate. The conversion rate won’t be the best in the world, it’s typically about 5/8ths of a point higher than a given index, but it may be better than the fixed rate at the time you applied [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
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