can any one provide me a list of all the fees that RESPA and HUD allow to be used in the calculation of the APR
By Jonathan Hammmon, Friday, May 8, 2009.Bookmarking Sites
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please provide documentation or links (that work) were I can go and read it for myself.
I know how to calculate it.
also can any one tell me how, knowing the APR, origial loan amt, term and note rate, how to calculate the dollar amount of fees and points charged as part of the cost of credit.
It seems to be a very closely guarded secret, yet required by the government.
Jonathan
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Submitted by Berni Paradise on October 8, 2009 - 12:21pm.
Just attended a seminar about Legislative Changes, Predatoy Lending and the Mortgage Industry relating to the changes being made.
Good info on appraisers as they relate to the
Mortgagee Letter 2009-28 issued by HUD on 9/28/2009. Might be of some help. Also check out the sites: www.GrantSimon.com or www.EducatorGrantSimon.com. Maybe these can point you in the right direction.