http://firsttuesdayjournal.com/lender-escrow-and-referral-fees/ Wed, 08 Feb 2012 04:44:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://firsttuesdayjournal.com/lender-escrow-and-referral-fees/comment-page-1/#comment-49454 Harold J. Goldman Mon, 23 Nov 2009 21:53:02 +0000 http://blog.firsttuesdayjournal.com/?p=1062#comment-49454 We have felt the response of the HVCC and have borrowers angry at appraisers thinking the Appraisal fee has increased, when in fact, the appraisal fee has been cut to less than a fee of l5 years ago for most HVCC orders. It has come to our attention the the HUD-a statement indicates a $450 appraisal fee, but in research it was found that $54 went to the Third Party Service (the company under HVCC guidelines for ordering appraisals), $196 to the Appraiser and the rest......back to the Lender. Not only are Appraisal fees being added to, but credit reports ($50 to $175 on a HUD-a) and Flood Certs ($16, but borrowers get charged as much as $354).....plus the Banks do not have to disclose the hidden yield spread premium...because they fall under Dept. of Corporations rules and not DRE.......it seems everyone except the banks are being flushed and the Banks just ask for Bail Out money.....and get it. We have felt the response of the HVCC and have borrowers angry at appraisers thinking the Appraisal fee has increased, when in fact, the appraisal fee has been cut to less than a fee of l5 years ago for most HVCC orders. It has come to our attention the the HUD-a statement indicates a $450 appraisal fee, but in research it was found that $54 went to the Third Party Service (the company under HVCC guidelines for ordering appraisals), $196 to the Appraiser and the rest……back to the Lender. Not only are Appraisal fees being added to, but credit reports ($50 to $175 on a HUD-a) and Flood Certs ($16, but borrowers get charged as much as $354)…..plus the Banks do not have to disclose the hidden yield spread premium…because they fall under Dept. of Corporations rules and not DRE…….it seems everyone except the banks are being flushed and the Banks just ask for Bail Out money…..and get it.

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