New DiTech Program
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DiTech Funding Corp. said Thursday it has launched a program that locks in loan fees, which it promises not to change while a loan is being processed.
The high-profile lender said its program also combines lender, title and escrow fees for the borrower. Typically, lenders estimate loan fees, such as appraisal fees, credit report fees and processing fees, at the beginning of the procedure. The actual fees can vary at the closing, the company noted.
The fee will be based on a percentage of the loan and the borrower’s state of residence. “Our goal with the (program) is to take the surprise out of mortgage borrowing,” said J. Paul Reddam, chief executive officer.
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