As You Look At Each HUD Compare What I Listed Above As Fair With What you See.
When You Do, You Will Know Why I Took The Time To Create This Web Site.
I have Seven HUDS Below, I Could Have 77 Very Similar To These If It Was Necessary To Get The Point Across. For 80% Of You, These Seven and Your Own HUD Will Be Enough To Get The Point Across.
This is the last loan that I closed only yesterday (Summer 2006). This families closings cost almost doubled from the original good faith estimate and their interest rate went up .50 over the first rate they were quoted. This is a prime example of wear out the customer and then take them to the cleaners.
The broker did combine all his charges which is unusual.
POC on line 809 is the yield spread premium the lend made on raising the interest rate above the customers par rate. This add about $50 or more a month to the mortgage payment.
This family paid about $3700 too much in closing cost which is my opinion.
When I have worked with the greedy, they always had a good reason they should charge what they charged.
This family paid about $4000 to much to the broker, $300 to much to the lender and $800 to much to the title company
Why not give away 4 or 5 thousand of your equity, it so easy to come by anyway.
The next HUD Below
What I want you to see here is the way some companies love to add on the fees. It makes the fees look so necessary when they do the fees this way.
I have worked at 8 different mortgage companies and I have never seen an under writing department in my life. I also have never heard of a post closing service till I saw this HUD.
