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Up Front Fees
April 13th, 2008 5:29 PM

This seems to be a hot topic lately. Mortgage Authority does not take application fees. We feel that earning your business is based on our performance. Please be ware of those companies that want you to pay them first then they will perform later. Suppose they never perform . . . you are out the money. We have learned this the hard way with some would be investor/lenders. Whether it's commercial or residential, you will have to pay for an appraisal and in some cases and environmental survey and title issues. However, if you pay for them, you own them and can use them for another lender if the first one does not perform. Please call me personally should you have any questions in this regard.

Charles Pope, Mortgage Authority


Posted by Charles Pope on April 13th, 2008 5:29 PMPost a Comment (0)

Repeat advice worth mentioning
April 9th, 2008 9:03 PM
Please be careful of selecting your mortgage professional. As the months pass, with the funding sources becoming less and less liquid, making underwriting tighter and tighter we’ve noticed more “too good to be true” mortgage offers. It is unreasonable for a mortgage company to take up front fees and it is unreasonable for a mortgage company not to provide references – please ask.

Posted by Charles Pope on April 9th, 2008 9:03 PMPost a Comment (0)

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