Is it normal to have so many errors on a Good Faith Estimate?

Asked by Jc, Grand Rapids, MI Tue Sep 4, 2012

On our GFE for an FHA Streamline loan refinance the upfront mortgage premium should only be $13.56 due to new FHA guidelines but bank estimates $2,373.00. Also charging us for an appraisal we were told they were not going to do. We were informed our closing costs would be no more than our current mortgage payment - on GFE it has increased to more than double that amount. Mortgage loan officer says his system is "messed up" and it overestimates according to preset specifications. He cannot tell me today (9/4) what the final closing costs will be and that he will only have those figures at closing (which is to be scheduled in the next couple of weeks). My interest rate expires in a week (not giving me enough time to shop around). Same lender with original mortgage, we have excellent credit and payment history, nothing streamlined about this process. Obviously we are not signing anything we don't agree with. It leaves us hanging at closing if costs to high...

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