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warehouse fee

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warehouse fee

A charge to a borrower when a mortgage banker or other small lender must borrow money on a short-term basis in order to loan money on mortgage loans.If the interest rate on the short-term loan is too large to make money on the spread, the mortgage banker will charge a warehouse fee to cover its costs until it can assemble enough loans in its virtual warehouse and sell them to someone else,making enough money to pay off its short-term loans.



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b) Warehouse Fee - Not necessary c) Fax Fee - Not necessary d) Consulting Fee - Not necessary e) Endorsement Fee - Not necessary There are several other fees that a broker might add to your mortgage loan.
But they do charge a warehouse fee and shipping charges.
 
 
 
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