Zillow Advice: FHA and VA Loans - Overstated MIP on GFE for streamline refinance... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ Zillow Advice | Zillow Real Estate Guys, you can not charge ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ Guys, you can not charge application fee on FHA- it is not legal.<br/>You can charge appraisal and credit fees. Correct me if I am wrong.<br/>Loan officer can make a mistake preparing the GFE, but loan is not going to close if it is not in compliance. Loans today are closed according to FHA rules or they are not insurable. The new law does not allow the loan originator to change the initial GFE, it can be changed only with changed circumstances. If you do not trust your loan officer move to another bank and they will request a transfer of your FHA case number. Fri, 20 Sep 2013 17:29:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-20T17:29:00Z Don't pay anything to that ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ Don't pay anything to that lender and walk away.&nbsp;<br/><br/>You should be able to obtain the FHA loan with .55 MIP and .01% UFMIP.&nbsp;<br/><br/>I can pull the case query without even the application if you like and let you know for sure where you stand, and I can do this within minutes. From there, we can get the application taken care of.&nbsp;<br/><br/>I do several of these FHA and VA streamlines every month. We have a special offer on the closing cost involved on these FHA and VA streamlines right now as well. Our current FHA and VA rates are extremely competitive. We're a very competitive Bank and usually can't be beat for rates and closing cost.<br/><br/>It would seriously be to your benefit to get this completed now with the drop in rates that just occurred.&nbsp;<br/><br/>Call me to help you get this taken care of!!!<br/><br/> Fri, 20 Sep 2013 17:15:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-20T17:15:00Z When reviewing your quotes, ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ When reviewing your quotes, you really need to focus on 2 areas of the GFE. &nbsp;1) Block A "Your adjusted Origination Charges" - This is what you are actually paying the lender for originating your loan. 2) The interest rate. You should not get caught up with all of the third party fees, since lenders do not have control over them, and they should not vary between lenders. &nbsp;You should also make sure you are working with the individual you feel will provide the highest level of service. &nbsp;Anyone can quote rates and fees, but not everyone can get a loan closed. &nbsp;You want someone who will be available to answer your questions honestly, rather than you having to post your questions on websites like this one. Gather all of the information you feel is necessary to make an educated decision as to whom you want to work with, and start saving some money. &nbsp;All the best! Fri, 20 Sep 2013 15:46:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-20T15:46:00Z You should be seeing better ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ You should be seeing better terms than the one you posted after the market moved yesterday. However, be aware any new quote may change if your middle Fico goes below 640. &nbsp; Thu, 19 Sep 2013 16:38:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-19T16:38:00Z Thanks everyone for the information ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ Thanks everyone for the information and great advice!&nbsp; I am getting a few more quotes to confirm I'm getting the best rate &amp; GFE etc.<br/><br/>I'm a little paranoid and my desire is to have an accurate (or close to accurate) GFE.&nbsp; Since my original closing date was in Sept '08 I feel the MIP should have been correct.&nbsp; It would be extremely unlikely that my endorsement date would be 8 months after closing.<br/><br/>I called the FHA hotline and they verified my endorsement date in 5 mins so I'm extremely skeptical...<br/><br/> Thu, 19 Sep 2013 15:51:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-19T15:51:00Z Your new case number cannot ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ Your new case number cannot be assigned until you have signed an application so their approach is sensible. It is true a Case Query can be done on your prior FHA number to confirm endorsement date however the lender is justified to follow its chosen procedure to protect against under disclosure and tolerance violation. The lender of course will charge at closing precisely what FHA requires for UFMIP so on this one aspect I wouldn't be overly concerned. Thu, 19 Sep 2013 15:25:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-19T15:25:00Z I agree with James an upfront ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ I agree with James an upfront fee is collected so you do not shop the lender, I have worked at a company that collected an upfront fee and they did that only because the submit to close rate was a lot higher because it doesn't allow you to shop and commits you to using them.&nbsp; Most ethical lenders are confident in their abilities to secure the loan with their service, this is another way to keep you locked in.&nbsp; Any lender can go under FHA connection and within 30 minutes have all the info you need to prepare a fair quote on your loan being grandfathered in with the lower PMI.&nbsp; Sounds like you need another opinion.&nbsp; Good luck! Thu, 19 Sep 2013 14:48:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-19T14:48:00Z Never pay an upfront fee ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ Never pay an upfront fee to any lender. Thu, 19 Sep 2013 12:22:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-19T12:22:00Z They can do a case query ... http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ They can do a case query to get the endorsed date ahead of the application / disclosures. If you have not refinanced since the purchase on 9/30/08 the docs should be set up with the grandfathered MI rates, then re-disclosed if endorsed after May 09.&nbsp; Rates changed yesterday to your benefit, get a 2nd opinion. Thu, 19 Sep 2013 11:02:00 GMT http://www.zillow.com/advice-thread/Overstated-MIP-on-GFE-for-streamline-refinance/511956/ 2013-09-19T11:02:00Z