bought a new home in ca, I paid more money to buydown int. rate. mortgage co. said I would have to pay add%26#039;l fees to mortgage co. outside of the closing cost to title co. because it is over the amt allowed by the state. mortgage co. wants to to me to pay $4k to them directly besides what I pay to the title co.
. the mortgage broker ask that I pay add%26#039;l fees outside of title. is this legal?
Not only is this fishy, illegal, and stink....I would contact the Consumer Credit Agency or Bureau in your state and report the mortgage broker. All REPUTABLE brokers will have their fees stated in FULL on the HUD. The only items that you might pay %26quot;outside%26quot; the settlement statement/HUD are items like an inspection, appraisal, etc. All of their charges should be listed.
You should also contact HUD.
. the mortgage broker ask that I pay add%26#039;l fees outside of title. is this legal?
shop around.. somethings stinky..
. the mortgage broker ask that I pay add%26#039;l fees outside of title. is this legal?
RESPA Laws vary from state to state, but as someone else said.... this smells fishy. All expenses should be listed on the HUD-1 Settlement Statement. If California limits the amount you can pay to the mortgage company, then they are trying to overcharge you %26quot;under the table%26quot;. Why don%26#039;t you just put them on hold, and talk with a mortgage LENDER, such as a bank or savings %26amp; loan, instead?
. the mortgage broker ask that I pay add%26#039;l fees outside of title. is this legal?
I agree wait find a lender tell the other not right now
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