Posted To: Pipeline Press

Is your business interest rate independent? Are you girding your loins? How is your overhead? If lenders are selling into the same MBS market, executing at the prices everyone else is, will the victors be the lowest cost producers? One component of that is closing costs, and ClosingCorp released its first national refinance closing cost report that showed the national average closing costs for a single-family residential property refinance last year were $3,398 including taxes, and $2,287 excluding taxes. (Think lender’s title policy, appraisal, settlement, recording fees, and various state and local taxes.) audio version of the commentary is sponsored by Black Knight and features an interview with Bob Brandt, SVP of Origination Technologies Division, focusing on the changing mortgage…(read more)

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Source: Mortgage News Daily