Origination Fee for HELOC

carlo@CreditReportAtlas · #1 (**permalink**) 10-26-2007, 11:36 AM

I have a ton of leads that are interested in pulling a HELOC on their property. I am looking for a lender/bank that offers an Origination Fee for originating the loan. Please help!!!

Thanks,
Carlo

florida man · #2 (**permalink**) 10-27-2007, 01:11 PM

Hi Carlos

I didnt know you were a broker .

Try chase, citi and a whole raft of others. Ive never heard of a lender who WONT allow you to charge an 'origination' fee. Perhaps you have to call it a broker fee ?

carlo@CreditReportAtlas · #3 (**permalink**) 10-27-2007, 04:06 PM

I don't have my real estate license nor I am a broker. I'm looking at other ways to help borrowers pay off their loans. Something we are considering in doing on the side since we do credit, title and escrow... of course, with access to leads as well. We are concentrating more on maximizing more of mortgage services rather than selling leads.

Quote:

Originally Posted by florida man

Hi Carlos

I didnt know you were a broker .

Try chase, citi and a whole raft of others. Ive never heard of a lender who WONT allow you to charge an 'origination' fee. Perhaps you have to call it a broker fee ?

IndyRep · #4 (**permalink**) 10-28-2007, 07:45 PM

We pay not only on the amount drawn, but on the line amount.

Indymac Wholesale Lending

Greg · #5 (**permalink**) 10-29-2007, 03:01 PM

Indymac, GB Home Equity, Fifth Third Bank

carlo@CreditReportAtlas · #6 (**permalink**) 10-29-2007, 03:46 PM

Quote:

Originally Posted by Greg

Indymac, GB Home Equity, Fifth Third Bank

Do you know of a lender that approves HELOCs below 600?