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Bay Area Homes and Real Estate.

Silicon Valley Real Estate; Santa Clara County Homes and Trends.

By Ruth & Perry Mistry | Agent in 95030

Half Loan Apps Killed After Fees Paid;

DAILY REAL ESTATE NEWS | TUESDAY, JULY 31, 2012

As of September 2011, some lenders were rejecting 50 percent or more of their mortgage applicants after the potential borrowers had paid for an appraisal and sometimes after they’d paid a nonrefundable upfront fee, according to confidential reports from industry insiders, says Jack Guttentag, a professor of finance emeritus at the Wharton School of the University of Pennsylvania.  Read more at : ttp://tinyurl.com/btdvxja  [Open in new window]



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