New housing act/bill passing on April 4th?Loan officer is saying they can do the paperwork for the 30 year fixed, 4.875% with closing costs of $2600 now, but isn't going to get underwrited until April 4th because that bill that has yet to pass.There is high possibility that my LTV is more than 80%. They require a nonrefundable $500 for preliminary processing of my application.I don't see any reason for me to have them get started on the paperwork until I know for sure they can lock in a rate at that instant.Why is the loan officer pressuring me to pay the $500 prior to the April? (other than locking me into a $500 contract)Also, he said there is 95% chance that I'll qualify for a appraisal and inspection waiver, in which that appraisal fee will be credited back to me upon waiver approval.I think I should wait for April 4th and then call them again, what do you think?March 19 2009 - Santa Ana00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.