FTC Proposes Up-Front Fee Ban for Mortgage Modifications

The Federal Trade Commission has proposed a new rule that would ban third party mortgage companies from charging up-front fees for mortgage modification and foreclosure rescue.  Under the new FTC rule, third party mortgage companies would only receive payment after services are completed for the borrower.  These companies would also be required to disclose the [...]

Freddie Mac Raises Mortgage Fees

Freddie Mac is raising costs for some home mortgage borrowers, following similar fee increases by competitor Fannie Mae. The new fees affect mortgages for condominiums, interest only loans, home equity loans.  Borrowers with low credit scores and low down payments are also affected.

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