Never pay to lock your loan. The only fee I collect for and this is after the process is started is for the appraisal. That fee is paid by the borrower when we are allowed to order it per RESPA guidelines. The only upfront fee you can collect for is a credit report and I do not charge clients upfront for a credit report. Some lenders do.
The lender request is also very strange. I have never had a client of mine be required to have a tenant sign such a form. If you would like a GFE of what i can do for you please give me a call or email me anytime. You seem to be dealing with a lender who has some very crazy guidelines. I would just walk away and get some other options because while lending is not like it used to be they are making the entire process a lot harder than it needs to be.
Best of luck to you,
REALTOR® | Mortgage Broker
Austin Listed | 360 Lending Group
o 512.669.5599 m 512.633.4157
firstname.lastname@example.org | http://www.AustinListed.com
I believe all the responses you have received are correct. A lender will not collect any fees over and above what was originally disclosed on the Good Faith Estimate (GFE). There is a 0% deviation from your figures on the GFE. Only fees I may collect prior to closing is for the appraisal of the property. I agree with the Quicken comment. Love their commercials reflecting the huge spread between the note rate and APR. You should call for a quote and see if we can improve your situation.
NMLS No. 213826
Republic State Mortgage Company
2121 Sage Road, Suite 140
Houston, Texas 77056
713-579-7810 (Direct) http://www.republicstatemortgage.com
This sounds like a Quicken Loans debacle. Most respectable lenders do not require any kind of lock in fee or good faith deposit of any kind out side of the appraisal fee.
At this point, try another lender like me.
Senior Mortgage Banker