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Monday, October 11, 2010

NAR: Golden Rule... or Greedy Rule ?

I have discovered an interesting fact about the National Association of Realtors.  When money is involved, the "Golden Rule" is quickly transformed into the "Greedy Rule."

Here are two examples...

Loan 1:  (Property value $150,000)  A. $4,799 yield spread premium  B. $500 processing fee  C. $250 document preparation fee  D. $50 courier fee  E. $35 electronic filing fee  F. $425 administration fee (lender fee)  

Loan 2:  (Property value $120,000)  A. $1,440 yield spread premium  B. $960 application fee  C. $1,920 in "discount points" (paid to Scott Veerkamp)  D. $409 administration fee (lender fee)  E. $150 underwriting fee (lender fee)  

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