Mortgage Refinancing A Warning About Refinancing With a Bank

Home Loans

Mortgage Refinancing A Warning About Refinancing With a Bank
(presented by www.refinance-refinance.net - mortgage lenders)

By Louie Latour

If you are considering mortgage refinancing with your bank, you should read the following discussion first. Banks fall into a special category of mortgage lenders and routinely charge Service Release Premium (SRP) for their loans. What is SRP and why should you avoid banks altogether for your next mortgage loan? The answer will surprise you.

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Banks and Broker-Banks are a unique type of mortgage originator as they fund their mortgage loans with their own money; Broker-Banks are simply banks pretending to be mortgage brokers. Everyone else in the marketplace (mortgage companies & brokers) is a retail vendor that sells mortgage products for wholesale lenders. Because banks fund their loans with the bank

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This entry was posted on Saturday, November 18th, 2006 at 6:14 am and is filed under Refinance. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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