Am I responsible for this fee?

[The Bad Guy]

About 2 months ago, I applied for a mortgage with a bank. At the time, I was just getting the application process started and was shopping it so to speak.

Well, I never signed a commitment letter with the bank to go through with the mortgage. I never authorized or signed anything but the application.

When I told them a few weeks ago that I was not going with them, they got nasty. Today, I get a letter in the mail stating I owe for the appraisal fee, for the credit report, for the underwriting fee and the flood certification. The fee is well over 100.

Is this normal during this process? Since this is my first mortgage, I wanted to find out before I have my lawyer friend respond to them.

If it is normal, I'll just pay it and move on.

[MOhillbilly]

without out readin anything. Yes.

[Pants]

Mortgage? Yous gotsta pay straight cash, homie.

/proud resident of a trailer park, r8ers

[Gonzo]

Check the fine print on anything you signed to see if you're responsible.
Posted via Mobile Device

[DaFace]

If they paid for an appraisal in order to process the loan, I'd say you're probably responsible for that. However, you might be able to just give that appraisal to your new bank.

I have no clue on the rest of the stuff. You might just ask your new bank what they think. :shrug:

[BigMeatballDave]

I don't have a clue.

Sure sounds like BS.

[The Bad Guy]

If they paid for an appraisal in order to process the loan, I'd say you're probably responsible for that. However, you might be able to just give that appraisal to your new bank to your new bank.

I have no clue on the rest of the stuff. You might just ask your new bank what they think. :shrug:

Apparently, my 2 year old pulled the folder off my desk that had all the mortgage stuff in it and now I can't find it.

I called them and asked them to submit to me something that indicated I'd be responsible for the fees.

I'll see what they say tomorrow.

[blaise]

Apparently, my 2 year old pulled the folder off my desk that had all the mortgage stuff in it and now I can't find it.

I called them and asked them to submit to me something that indicated I'd be responsible for the fees.

I'll see what they say tomorrow.

Yeah, that's going to be it, everything in real estate is in writing some place or another. And if it isn't you don't pay.

[vailpass]

Mortgage? Yous gotsta pay straight cash, homie.

/proud resident of a trailer park, r8ers

LMAO

[Bane]

Yes.

[vailpass]

Whether you signed something or not it is worth a call to the bank. Explain you were under the impression that you were under no obligation and respectfuly request to have it removed. In the interest of earning your future business they may work with you.

[The Bad Guy]

Whether you signed something or not it is worth a call to the bank. Explain you were under the impression that you were under no obligation and respectfuly request to have it removed. In the interest of earning your future business they may work with you.

The reason I didn't go through with the mortgage because the mortgage contact we were working with yelled at the wife on the phone. After that, magically, my rate went up for the construction and she couldn't explain it.

Only when I said I was withdrawing my application, did she try to play nice, at that point I told her I'm done with them.

It didn't end well, so I doubt they are going to cut me any breaks, but I'll have my attorney check out the fine print when I get the info from the bank tomorrow.

[underEJ]

Did you get a copy of the appraisal so you know they actually did it? When I've gotten home loans, it was required that I pay for the appraisal up front before they order it, but if they did pay it on your behalf, there should be some paperwork or mention on the application or something. Very little happens without documents on a mortgage.

[vailpass]

The reason I didn't go through with the mortgage because the mortgage contact we were working with yelled at the wife on the phone. After that, magically, my rate went up for the construction and she couldn't explain it.

Only when I said I was withdrawing my application, did she try to play nice, at that point I told her I'm done with them.

It didn't end well, so I doubt they are going to cut me any breaks, but I'll have my attorney check out the fine print when I get the info from the bank tomorrow.

An e-mail to a VP at the bank outlining the facts you describe above might be all you need. Close it by telling them you'd like to be able to give them a positive reccomendation should anyone ever ask you about them.

[Saul Good]

About 2 months ago, I applied for a mortgage with a bank. At the time, I was just getting the application process started and was shopping it so to speak.

Well, I never signed a commitment letter with the bank to go through with the mortgage. I never authorized or signed anything but the application.

When I told them a few weeks ago that I was not going with them, they got nasty. Today, I get a letter in the mail stating I owe for the appraisal fee, for the credit report, for the underwriting fee and the flood certification. The fee is well over 100.

Is this normal during this process? Since this is my first mortgage, I wanted to find out before I have my lawyer friend respond to them.

If it is normal, I'll just pay it and move on.

I doubt you owe shit. They didn't have your house appraised, or it would have cost more than that.

[The Bad Guy]

I doubt you owe shit. They didn't have your house appraised, or it would have cost more than that.

They said they had them do a "land appraisal". I never authorized anything for that to be done. The only thing I signed was the initial application fee.

[Saul Good]

They said they had them do a "land appraisal". I never authorized anything for that to be done. The only thing I signed was the initial application fee.

I'm guessing you signed this form which doesn't constitute an obligation to pay any of the fees you mentioned.

https://www.efanniemae.com/sf/formsdocs/forms/pdf/sellingtrans/1003.pdf

[The Bad Guy]

I'm guessing you signed this form which doesn't constitute an obligation to pay any of the fees you mentioned.

https://www.efanniemae.com/sf/formsdocs/forms/pdf/sellingtrans/1003.pdf

You would be correct.

[Saul Good]

You would be correct.

If that's all you signed, tell them to roll it up really tight and shove it up their asses.

Per the "Acknowledgment and Agreement" section:

"Each of the undersigned specifically represents to Lender and to Lender's actual or potential agents, brokers, processors, attorneys, insurers, servicers, successors and assigns and agrees and acknowledges that: (1) the information provided in this application is true and correct as of the date set forth opposite my signature and that any intentional or negligent misrepresentation of this information contained in this application may result in civil liability, including monetary damages, to any person who may suffer any loss due to reliance upon any misrepresentation that I have made on this application, and/or in criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Sec. 1001, et seq.; (2) the loan requested pursuant to this application (the "Loan") will be secured by a mortgage or deed of trust on the property described in this application; (3) the property will not be used for any illegal or prohibited purpose or use; (4) all statements made in this application are made for the purpose of obtaining a residential mortgage loan; (5) the property will be occupied as indicated in this application; (6) the Lender, its servicers, successors or assigns may retain the original and/or an electronic record of this application, whether or not the Loan is approved; (7) the Lender and its agents, brokers, insurers, servicers, successors, and assigns may continuously rely on the information contained in the application, and I am obligated to amend and/or supplement the information provided in this application if any of the material facts that I have represented herein should change prior to closing of the Loan; (8) in the event that my payments on the Loan become delinquent, the Lender, its servicers, successors or assigns may, in addition to any other rights and remedies that it may have relating to such delinquency, report my name and account information to one or more consumer reporting agencies; (9) ownership of the Loan and/or administration of the Loan account may be transferred with such notice as may be required by law; (10) neither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property; and (11) my transmission of this application as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or my facsimile transmission of this application containing a facsimile of my signature, shall be as effective, enforceable and valid as if a paper version of this application were delivered containing my original written signature.
Acknowledgement. Each of the undersigned hereby acknowledges that any owner of the Loan, its servicers, successors and assigns, may verify or reverify any information contained in this application or obtain any information or data relating to the Loan, for any legitimate business purpose through any source, including a source named in this application or a consumer reporting agency."

[vailpass]

The Good News: Saul just saved you $100 in bank fees.
The Bad News: You now owe Saul $250 in attorney's fees

[Phobia]

The Good News: Saul just saved you $100 in bank fees.
The Bad News: You now owe Saul $250 in attorney's fees

No kidding. I'm not having any attorney look at anything under $500 unless it's getting a routine traffic ticket reduced.

[The Bad Guy]

No kidding. I'm not having any attorney look at anything under $500 unless it's getting a routine traffic ticket reduced.

The perks of having an aunt who works as a paralegal for a very generous attorney that handles things for me for nothing.

[Phobia]

The perks of having an aunt who works as a paralegal for a very generous attorney that handles things for me for nothing.

My aunt works for a proctologist.... at least he claimed to be a proctologist.

[The Bad Guy]

My aunt works for a proctologist.... at least he claimed to be a proctologist.

You got me Phobia. He's obviously not really an attorney.

[Psyko Tek]

An e-mail to a VP at the bank outlining the facts you describe above might be all you need. Close it by telling them you'd like to be able to give them a positive reccomendation should anyone ever ask you about them.

also tell him you have the pictures

that gets them every time

[The Bad Guy]

also tell him you have the pictures

that gets them every time

HA. The Letter I received today was addressed from the VP.

I just researched the bank online and it appears they have done this numerous times to others. Don't want to go with us for the mortgage? We'll send you a letter saying you owe. Probably a ton of people just pay it without really checking what they are on the hook for.

[Great Expectations]

What bank?

[Hog's Gone Fishin]

I have a standard rule that anytime a mortgage company tries to stick me with something I tell them to stick it in their ASS. They are at our mercy.

[Phobia]

You got me Phobia. He's obviously not really an attorney.

That was a self-depracating joke.

[Mr_Tomahawk]

PIIHB

[trndobrd]

HA. The Letter I received today was addressed from the VP.

I just researched the bank online and it appears they have done this numerous times to others. Don't want to go with us for the mortgage? We'll send you a letter saying you owe. Probably a ton of people just pay it without really checking what they are on the hook for.


For God's sake, pay the bank the money you say you owe them! They are the bank, and they are right about stuff like this. You can reasonably rely on them to be forthright.

After your check to the bank clears, go talk to your attorney and ask who he knows doing cla$$ action and consumer protection litigation. You'll be glad you did.

[RockChalk]

For God's sake, pay the bank the money you say you owe them! They are the bank, and they are right about stuff like this. You can reasonably rely on them to be forthright.

After your check to the bank clears, go talk to your attorney and ask who he knows doing cla$$ action and consumer protection litigation. You'll be glad you did.

I had the president of a bank call me the other day in regards to a tax client of mine. The particular client had a rather large tax bill and needed a small loan to pay off the balance. He couldn't understand why this particular individual didn't have enough money to pay off the balance (makes six-figures). He then asked me what the client spends their money on and became upset with me when I informed him that it's not my job to babysit my clients and inquire what they spend their money on. He then informed me that if the client wanted the loan, they would have to explain what they do with their money. Typical banker. Think they know everything, yet they are a major contributor to the financial crisis we are still experiencing today.

[Ace Gunner]

Yes

[trndobrd]

I had the president of a bank call me the other day in regards to a tax client of mine. The particular client had a rather large tax bill and needed a small loan to pay off the balance. He couldn't understand why this particular individual didn't have enough money to pay off the balance (makes six-figures). He then asked me what the client spends their money on and became upset with me when I informed him that it's not my job to babysit my clients and inquire what they spend their money on. He then informed me that if the client wanted the loan, they would have to explain what they do with their money. Typical banker. Think they know everything, yet they are a major contributor to the financial crisis we are still experiencing today.


Next time you get a call like that you should tell him it's a pity that his bank doesn't care enough about their customers (esp. $100k types) to already know the answers to those questions, and suggest banks indifference to their customers is why their business model is failing.

But only say that if you want to hurt his feelings.

[Demonpenz]

Phobia just stringed together some nice jokes. Punch-line and a tag. Good work.

[The Bad Guy]

Just as I thought. Bank said they assumed I would be willing to pay the fee.

I told them they assumed wrong.

They have nothing with my signature. I told them I'm disregarding the letter.

[vailpass]

Just as I thought. Bank said they assumed I would be willing to pay the fee.

I told them they assumed wrong.

They have nothing with my signature. I told them I'm disregarding the letter.

Monitor your credit report.

[The Bad Guy]

Monitor your credit report.

Absolutely. Printed out the email and saved it to my hard drive.