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Old 03-20-2009, 05:44 AM
 
596 posts, read 2,495,930 times
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Quote:
Originally Posted by julieca View Post
I think each company sets their own rules about what expenses they will and will not pay. I was confused about it as they kept saying they did not pay "points" and that is really what this is.....however, the fine print did indicate they paid for the "origination" fee. Also, these expenses were direct billed by Wells Fargo to our relocation company and everyone agreed to them and indeed it was all accepted. It was a nice surprise for us.......but strange as the origination fee definitely lowered the interest rate.....just like a "point" would have. Our "origination fee is treated like a typical non-recurring closing cost, and all of those were paid by my company. It probably pays to ask the questions ahead of time as it could save you a lot of money.
Thanks for this information. I am going to have to find out whats going on with the relocation expenses. All I know is that they are quite willing to pay for anything provided it is something that they can also write off for tax purposes. But going back and forth through channels to learn whether or not something passes the coporate compliance test for "relocation expense" is time consuming and aggravating. Does anyone know if there is a list or something somewhere?
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Old 12-13-2009, 10:14 AM
 
Location: OK
2,717 posts, read 6,294,689 times
Reputation: 1844
Quote:
Originally Posted by buyerbuyerpantsonfire View Post
We had the appraisal come back with "over supply" checked but the appraiser didn't back up the claim with numbers so it was tossed and we are getting another appraisal.
I doubt that was the reason for tossing. The appraiser could have been "stipped" and asked for an explanation. And an over supply does not automatically mean a declining market.

I suspect that the appraised value came back too low and the LO is going for a different appraiser/appraisal in the hopes it comes back higher.
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