Fees Are Up…Thank Congress

Just watched a video talking about how the average amount of closing costs this year is up 37% from what it was last year! And this after the Feds came out with the new and “improved” Good Faith Estimate, which was suppose to stop lenders from adding on last second fees. Well, that has happened, no doubt. But for us honest lenders out there who never did something so stupid in the first place, it just complicated things for everyone. Now we use the old Good Faith to explain the new one. If that’s not proof that people making laws that have no clue what they are doing then I don’t know what is.

Why are costs higher? Simple…more regulation = more overhead to be compliant = more costs = higher fees to the consumer. It’s simple math really; it’s only hard to understand for those residing in Washington D.C. Just wait ’till the new health care goes into effect, especially for these large companies.

Don’t like it? Write your congress folks and let them know what you think of it.

About Two Bald Mortgage Guys

Ken Blanchard, one of the country’s premier business leadership authors, says in his latest book, “To keep customers today, you can’t be content to merely satisfy them; you have to give them legendary service and create ‘raving fans’ – customers who are so excited about the way you treat them that they tell stories about you.” In everything we do, this is what we envision. We see people such as yourself being so enthused with the process and service we provide that you will become a raving fan for us, telling stories to people of what you just experienced.


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