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The Home Equity Theft Reporter: Connecticut AG Files Suit Against Out-Of-State Company Running Allegedly Bogus Upfront Fee Loan Modification Scam

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The Home Equity Theft Reporter: Connecticut AG Files Suit Against Out-Of-State Company Running Allegedly Bogus upfront fee loan modification scam A home-loan broker, for example, looks at the borrower’s income, before lending the money to buy the house. Second, the lender looks at what the loan is going to be used for.

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Both Fannie Mae and Freddie Mac say they are tacking on extra fees to counter higher risks and losses associated with certain loan products, buyer equity stakes and credit scores . . . However, real estate agents, mortgage bankers and brokers are incensed at the new round of fee increases, calling them counterproductive in an environment in.

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