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Old 05-05-2009, 07:33 AM
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Default My mortgage broker wants me to pay them outside of...

...escrow? my mortgage broker is forcing me to pay them outside of escrow their origination fee because if I pay in escrow the bank I am getting my loan from will cut their commission can they do this?They said I can still get the write of on my taxes if I send them a 1099 but what the hell is in it for me? What if I dont oblige can they sabatoge my loan even though its been approved?
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Old 05-05-2009, 10:19 AM
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O MY GOD!.... SHADY @SS Brokers ... I'm not laughing at you ... its just I'm a mortgage banker and warn my clients about brokers (just like this one everyday). RUN for the hills ... that is crazy ... to claim them on your taxes you have to show the final settlement statement (from the bank/lender) and that will say $0 if you do that.You should expose those people ... call the banking commission or someone ... maybe the lender/bank.And no the can not "sabotage" a loan ... you don't want there loan ... call a mortgage lender and get a loan directly from them .... going through a broker is only a middle man who finds you a bank ... more fee's (they have to get paid too)please ... walk away.
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