March 15th, 2015 8:24 PM by Rose Tignor
mortgage loan often involves many fees, such as: lender’s origination or underwriting fees,
broker fees, and fees for services the lender requires to originate your loan.
In addition, other settlement costs are required, such as initial escrow
payments if you establish an escrow or impound account, taxes, government fees,
recording charges, and title insurance fees.
is an origination fee?
fee is what the lender or mortgage broker charges the borrower for making the
mortgage loan. Origination services include taking and processing your loan
application, underwriting and funding the loan, and other administrative
services. Origination charges are listed in Block 1 on the Good Faith Estimate
(and Line 801 of the settlement statement), and generally cannot increase at
closing. This charge is the biggest
difference between a broker GFE and a lender GFE.
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