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What are lender fees?

April 26, 2017fees Lender

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What are lender fees?

6 Answers

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Lender’s fees are fees that offset the cost of producing the loan. Mortgage companies may refer to them by different names, such as, processing fees, underwriting fees, and document preparation fees.

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These fees usually range anywhere from 2 to 5 percent and may include, but are not limited to, things such as appraisal costs, document preparation, and application costs. What is the Truth in Lending Act? The Truth in Lending Act is a federal law that was enacted as part of the Consumer Protection Act. This law requires lenders to reveal all information to the borrower and detail all costs associated with the transaction.

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Lender’s fees are fees that offset the cost of producing the loan. Different lenders may refer to them by different names, such as, document preparation, underwriting fees or commitment fees.

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Lender’s fees are fees that offset the cost of producing the loan. Different companies may refer to them by different names, such as, processing fees or underwriting fees.

0

10 Posted

Lender’s fees are fees that offset the cost of producing the loan. Different companies may refer to them by different names, such as, processing fees or underwriting fees.