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Old 07-24-2002, 10:29 AM
pjinny
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Question

Fees for forfeiting mortgage application

What is the name of your state? NY

I have been approved by an online mortgage lender and paid the appraisal and credit check fees which I know are non refundable. After reviewing the commitment letter/good faith estimate my lawyer suggests finding another lender due to high fees and some details in the fine print. Will I be obligated to pay them any more money (underwriting fees, etc) for any work they have done? I did not sign or return the commitment letter. Do I need to forfeit the application in writing?
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Old 07-24-2002, 12:31 PM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781

Re: Fees for forfeiting mortgage application

Quote:
Originally posted by pjinny
What is the name of your state? NY

I have been approved by an online mortgage lender and paid the appraisal and credit check fees which I know are non refundable. After reviewing the commitment letter/good faith estimate my lawyer suggests finding another lender due to high fees and some details in the fine print. Will I be obligated to pay them any more money (underwriting fees, etc) for any work they have done?

**A: no.
******
I did not sign or return the commitment letter. Do I need to forfeit the application in writing?
**A: yes and do it via email AND certified rrr snail mail.
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