Posted by Anonymous on 9/24/05 9:46am
Msg #67099

Countrywide

I have been doing a large amount of the countrywide "no closing cost, no credit check and no appraisal fee" loans. Even though these items are not listed on the HUD, there is a Loan Discount Fee....What is a loan discount fee?

Reply by Sylvia_FL on 9/24/05 10:16am
Msg #67102

Loan discount fee
The term used to describe points on the Good Faith Estimate

http://www.mtgprofessor.com/glossary.htm

Reply by Sylvia_FL on 9/24/05 10:17am
Msg #67104

Points

An upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., "3 points" means a charge equal to 3% of the loan balance. It is common today for lenders to offer a wide range of rate/point combinations, especially on fixed rate mortgages (FRMs), including combinations with negative points. On a negative point loan the lender contributes cash toward meeting closing costs. Positive and negative points are sometimes termed "discounts" and "premiums," respectively. See Mortgage Points and Rebates.

http://www.mtgprofessor.com/glossary.htm

Reply by Brasring_Ca on 9/24/05 1:28pm
Msg #67138

Sylvia,

Just wanted to thank you for the website address of glossary terms, there is so much I still have to learn and want to learn for my own personal knowledge. This is very helpful!

Thank you again.

Reply by Cheryl_NV on 9/24/05 10:16am
Msg #67103

This is the same as points

Reply by Anonymous on 9/26/05 6:38am
Msg #67300

Do you have the address of where to sign up with countrywide to do thier signings? If so, please email me. [e-mail address]

Reply by PAW_Fl on 9/26/05 7:20am
Msg #67301

To [e-mail address]

I think we all got the picture from your first post. I suggest to read through all the posts, do a search on the internet, and check the resources available to you right here. Have you looked at the company list (Signing Services tab)?

I surely hope you do not expect everyone to simply provide you with a list of resources. But, with a little bit of effort, you can develop your own comprehensive list from all the information available at your fingertips.