Mortgage broker fraud?? Are MBs free to add on huge commissions in plain sight on the closing docs on closing

This has happened to me on every deal. The MB supposedly gets paid by the bank but they have added huge fees and nonsense charges on the closing statement the day of the closing - is this common, is this fraud, any remedies
In Buying Property - Asked by JAY D. - Jan 28, 2010
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Answer(s)

Janice B.
Broker/Agent
Ventura, CA

You should be viewing your ESTIMATED closing statement several days before closing. Thereby having ample time to question your alleged fees and charges early on. If the charge is unjustified, it might be illuminated all together. If it is justified, you have a solid answer and should get that in writing. I am have had this same thing happen to me.

Jan 29, 2010
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T.J. L.
Owner/Investor
Los Gatos, CA

I agree that the Estimated closing costs statement should be "close" to the charges seen at closing. Otherwise dump your broker, they are being sneaky and in my opinion dishonest. yourloanadvocate@gmail.com My lenders don't do that because it is bad for continued business.

Mar 10, 2010
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