Don't expect bank employees to admit their rates are inflated; most bank employees know very little about mortgage rates and will swear the bank rates are not marked up. This notice of foreclosure warns or informs the owner that his house or business property will be put up for a public auction at the end of ninety days, after which, the property will become real-estate owned. Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders.



When you apply for a loan form the bank, you are required to put up a pledge for security for the loan. Your bank knows what mortgage rates their competitors in the wholesale market are closing loans at; however, they are counting on the fact that most homeowners don't understand mortgage rates to overcharge their customers. This is the retail markup of your mortgage interest rate when you borrow from a wholesale lender. Once you close on the mortgage the bank will turn around and sell your loan to secondary mortgage market collecting their profit.

Louie Latour specializes in showing homeowners how to avoid common mortgage mistakes and predatory lenders. These brokers charge a flat origination fee for their services without inflating mortgage rates like the banks. Bank mortgage loans are often called “correspondent loans" because after the banker completes your mortgage that bank will immediately turn around and sell it on the secondary market.

If you are in the process of refinancing your mortgage loan you might be considering a bank loan to get the job done. The problem with taking out a mortgage from your Bank is that they are not required to disclose any of this markup due to loopholes in the Real Estate Settlement Procedures Act. Aside from the fact that Banks don’t have to play by the rules your bank has a dirty little mortgage secret. Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders.

The lobby spent millions of dollars romancing Congress to give banks an unfair advantage over their customers. You can learn more about your mortgage options, including costly mistakes to avoid by registering for a free mortgage refinancing video tutorial. Would you ever consider taking out a mortgage from a lender that doesn’t have to play by the rules?. This markup of your mortgage interest rate is called Service Release Premium and banks charge this to boost their profits when selling your mortgage to investors on the secondary mortgage market.

Bank originated mortgage loans have the same markup as retail mortgage loans with one distinction. You may need to know about deed of trust foreclosure, power of sale or judicial foreclosure. The markup of your mortgage rate for this reason is called Service Release Premium. Because your Bank is exempt from the Real Estate Settlement Procedures Act that requires mortgage lenders to disclose this markup, the only ones that know how much they are overcharging you is the Bank.

Banks make the majority of their profit by selling your home loan to the secondary mortgage market. Banks make the majority of their profits selling mortgage loans to investors on the secondary market; mortgages with above market interest rates give them a premium profit. Your banker wants you to pay the highest mortgage rate possible so the bank makes the most money selling your loan on the secondary market.

The first thing you need to know about banks and mortgage loans is that your bank is in the mortgage business to make money. Here are several reasons you should avoid Banks altogether when mortgage refinancing. The markup of your mortgage rate for this reason is called Service Release Premium.