Home Loan Exit Fees: Will mortgage “exit fee” ban undo homebuyers
Mortgage exit fees are the name given to deferred establishment fees, these fees are to offset bank costs for setting up the loan in the first place.
They have a long standing history of being charged, even though one would reason that this was the purpose of charging interest rates [to cover the cost of such work.]
By deferring the establishment fees, and letting them disappear after the loan was 5 years old, or even less, it had three effects.
