National Mortgage Complaint Center Urges All US Bankruptcy or Consumer Attorneys to Join in Their Vital Initiative for Struggling US Homeowners That Will Grow Their Practices

Monday, March 26, 2012

National Mortgage Complaint Center is creating a vital national initiative to do everything possible to make sure every US homeowner struggling with a foreclosure, a possible mortgage work out or a loan modification finds competent local legal advice from a bankruptcy attorney, a bankruptcy law firm, real estate attorneys, plaintiffs attorneys, and/or law firms that have capabilities doing foreclosure defense, bankruptcy, mortgage work outs and/or loan modifications. The National Mortgage Complaint Center says, "At this moment we have the atmospherics of the Wild West, for homeowners facing a foreclosure, for homeowners attempting to get a loan modification or a mortgage workout. These individuals desperately need competent attorneys or law firms in every state and every top 200 US metro area to assist them. There is a very modest fee for attorneys or law firms that elect to join us in this effort, and we expect every participating attorney or law firm will charge their normal fees. We believe this will be an amazing win for homeowners because most are not even aware legal services like these even exist and, at the same time, we believe this could me a great time for bankruptcy attorneys, real estate attorneys or plaintiffs law firms to dramatically grow their practices. Everyone wins." For more information interested attorneys, or law firms are encouraged to call the National Mortgage Complaint Center anytime at 866-714-6466, or simply go to their web site and sign up for this vital initiative. http://NationalMortgageComplaintCenter.Com

(PRWEB) March 26, 2012

The National Mortgage Complaint Center Says,"We probably need every competent bankruptcy attorney, skilled real estate attorney and/or plaintiffs law firm with a background in mortgages to join us in a vital effort to assist millions of US homeowners who have no one in their corner. We know there are millions of US homeowners who are upside down on their homes or who have been given extremely bad advice by their mortgage loan servicer and, as a result, bankruptcy might be the only realistic option left." The group says, "At this moment many, to most loan modifications are handled by non-attorneys, and the result is the homeowner gets short changed, with no services rendered at all. We also know for many upside down homeowners, or homeowners facing a foreclosure, bankruptcy might be the only logical option. We are attempting to launch a robust national effort to educate homeowners about what a skilled attorney or law firm can do for them, and we really do believe this initiative is vital." The types of attorneys or law firms the National Mortgage Complaint Center seeks to include in its Homeowners Initiative include:

• Bankruptcy attorneys, or law firms that provide bankruptcy protection for homeowners in over their heads on a mortgage, or a home loan in a major top 200 US metro area.
• Attorneys, or law firms in each state, or major top 200 US metro area that offer legal representation for homeowners, who are attempting to get a loan modification from their lender.
• Attorneys, or law firms offering foreclosure defense in each specific top 200 US metro area such as Los Angeles, San Francisco, Las Vegas, Phoenix, Chicago, Dallas, Columbus, Boston, New York, Baltimore, Houston, New Orleans, Memphis, Miami, Atlanta, Tampa, etc.
• Attorneys, or law firms that offer possible mortgage restructuring that involves a forbearance agreement in a top 200 US metro area.
• Attorneys, or law firms, that offer credit counseling services in a top 200 US metro area.

Participating attorneys or law firms will get a listing on the National Mortgage Complaint Center's Legal Resources Initiative web site page, by state and the group will do a national press release indicating the specific attorney or law firm has joined them in this effort. The group will be doing weekly national press releases designed to drive homeowners to the National Mortgage Complaint Center Legal Resource Initiative page, with the goal being the homeowners take advantage of the attorneys or law firms in their areas, that offer loan modification assistance, bankruptcy assistance, mortgage loan work out assistance, etc. This initiative will run for one full year starting in April of 2012, and the cost for participation is $375. Only licensed attorneys or law firms will be allowed to participate in this initiative. The National Mortgage Complaint Center expects participating attorneys, or law firms will have a significant increase in new clients based on their participation in this vital intiative. For more information interested attorneys, or law firms are welcome to call the National Mortgage Complaint Center at 866-714-7466, or they can simply sign up by following the prompts on the web site. http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center has been featured in Money Magazine, Newsweek Magazine, Good Housekeeping Magazine, CBS Market Watch, The New York Times, The Los Angeles Times, The San Francisco Chronicle, Wealth, and on CNN, NPR, and numerous other major news outlets 

National Mortgage Complaint Center Urges Attorneys Or Law Firms That Specialize In Bankruptcy Loan Modifications Or Foreclosure To Join Their Effort To Help US Homeowners

Wednesday, March 21, 2012

National Mortgage Complaint Center is urging competent bankruptcy attorneys, or attorneys, and or law firms, that have capabilities doing loan modifications, foreclosure defense, mortgage workouts, or forbearance agreements, to join them in a vital initiative, that is designed to help millions of US homeowners in a mortgage mess. The group's effort is focused on making certain up to 26% of all US homeowners, who are upside down in their home get proper legal representation, for a possible loan modification. This initiative is also focused on trying to get professional help for millions of US citizens facing a foreclosure, or who need professional legal assistance with a bankruptcy, or a mortgage work out. The National Mortgage Complaint Center says, "At this moment we have the atmospherics of the Wild West, for homeowners facing a foreclosure, or for homeowners attempting to get a loan modification. These individuals desperately need competent attorneys, in every state, and every top 200 US metro area to assist them. There is a very modest fee for attorneys, or law firms, that elect to join us in this effort." For more information interested attorneys, or law firms are encouraged to go to the National Mortgage Complaint Center's web site and sign up for this vital initiative. http://NationalMortgageComplaintCenter.Com

(PRWEB) March 21, 2012

The National Mortgage Complaint Center Says,"At this moment many, to most loan modifications are handled by non-attorneys, and the result is the homeowner gets ripped off, with no services rendered at all. We are trying to change this dynamic in every state, and every major US metro area, with a campaign dedicated to getting homeowners to licensed attorneys, who might actually be able to help them." The types of professional legal services desperately needed by millions of US homeowners include the following:

• Bankruptcy protection for homeowners in over their heads on a mortgage, or a home loan
• Legal representation for a homeowner attempting to get a loan modification from their lender
• Foreclosure Defense
• Possible mortgage restructuring that involves a forbearance agreement
• Credit counseling services by an actual attorney, or law firm

The National Mortgage Complaint Center says, "We are not asking participating attorneys to discount their customary fees, or pricing, we are simply trying to make certain desperate homeowners get a proper legal review, and service, as opposed to a non attorney doing the same thing. Our initiative could keep participating attorneys, or law firms, in each state, and in most major US metro areas very busy for the next few years, or more. There really is that much need, and demand for these types of legal services for US homeowners." http://NationalMortgageComplaintCenter.Com

Participating attorneys, or law firms will get a listing on the National Mortgage Complaint Center's Legal Resources Initiative web site page, by state, and the group will do a national, and regional press release indicating the specific attorney, or law firm has joined them in this effort, and there will be weekly press releases designed to drive homeowners, and or consumer to the National Mortgage Complaint Center Legal Resource Initiative page, with the goal being the homeowners take advantage of the attorneys, or law firms in their areas, that offer loan modification assistance, bankruptcy assistance, mortgage loan work out assistance, etc. This initiative will run for one full year starting in April of 2012, and the cost for participation is $375. Only licensed attorneys, or law firms will be allowed to participate in this initiative. The National Mortgage Complaint Center expects participating attorneys, or law firms will have a significant return for participation. For more information interested attorneys, or law firms are welcome to call the National Mortgage Complaint Center at 866-714-7466, or they can simply sign up by following the prompts on the web site. http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center has been featured in Money Magazine, Newsweek Magazine, Good Housekeeping Magazine, CBS Market Watch, The New York Times, The Los Angeles Times, The San Francisco Chronicle, Wealth, and on CNN, NPR, and numerous other major news outlets

The National Mortgage Complaint Center Offers Smart Tips for Anyone in the United States Wanting to Refinance of Finance a Home & Suggests Honest Lenders

Monday, December 5, 2011

Out of concern that many would be home buyers, and or homeowners wishing to refinance might get overcharged, or gouged with unnecessary mortgage fees, or get stuck with inflated interest rates, the National Mortgage Complaint Center is offering tips for anyone looking at getting a fair deal on a mortgage. The National Mortgage Complaint Center says, "For starters anyone expecting to get the absolute best mortgage interest rates, needs to have good, to great credit. If your credit score is under 740, you will not get the absolute best mortgage interest rates. We are also urging both potential home buyers, or homeowners wishing to finance or refinance to steer clear of Internet ads, or mortgage companies advertising on the radio mortgage with interest rates that sound too good to be true-such as a 2% mortgage. While these products might exist, they are adjustable rate mortgages, which also means the 2% interest rate will not last for long. We are also warning all homeowners, or potential homeowners to be on the lookout for excessive fees, for their mortgage transaction. Typical junk mortgage fees we see include Administration Fee, excessive Underwriting Fees, Document Preparation Fees, and inflated Credit Report Fees." http://NationalMortgageComplaintCenter.Com

(PRWEB) December 05, 2011

The National Mortgage Complaint Center says, "After the Dodd Frank Consumer Protection Act, one would think everything would be better for US homeowners. In our opinion the Dodd Frank legislation with respect to the mortgage industry did nothing. As an example the new Good Faith Estimate designed by the US Department of Housing and Urban Development looks like something that the IRS came up with. The new Good Faith Estimate is too complicated, it leaves too much information out, and the old one page Good Faith Estimate was much easier to read, and to understand." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, "At this moment we have some of the lowest interest rates ever. However, we want to make sure every homeowner, or home buyer understands what they are getting. First we want to cover the no point mortgage, versus the regular fees included mortgage transaction. The no point mortgage is only a good option, if you do not have the money, or equity in your home to actually do the transaction. With the no point, or zero closing cost mortgage you will pay a higher interest rate, and monthly payment. When it comes to deciding if you want a traditional mortgage where you pay the costs, versus a no closing cost mortgage, simply ask the mortgage lender, or the bank, what are the best rates for a traditional mortgage-where you pay the costs up front, versus a non traditional mortgage where the lender pays all allowable closing costs. We want anyone looking at buying, or refinancing a home to know this information, and we want everyone to at least look at both options." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center suggests the following fees are junk mortgage fees:

• Administrative Fee

• Excessive Underwriting Fee

• Document Preparation Fee on the mortgage, or in association with title insurance

• Credit Report Fees that are over $30 are excessive

Who does the National Mortgage Complaint Center recommend as the best lenders in the United States?

American Interbanc (California, Washington, Oregon, Idaho, Massachusetts, New Jersey, Pennsylvania, Utah only) The National Mortgage Complaint Center & its parent group Americas Watchdog has endorsed American Interbanc for five years in a row, as the best mortgage lender in the United States. http://AmericanInterbanc.Com

Bank of America-According to the National Mortgage Complaint Center, "Believe it or not we actually like Bank of America's mortgage products, and of all major US banks, Bank of America would be the only lender to receive our endorsement. However, there is a catch. We like Bank of Americas mortgage products offered at a branch, where the consumer, or homeowner can actually see the loan officer, or branch manager, and it is a branch in your area." http://BankofAmerica.Com

For FHA, or VA Mortgages the National Mortgage Complaint Center continues to endorse, and recommend the James B Nutter Company. The James B Nutter company is a national mortgage lender based in Kansas City, Missouri, they are family owned, and they are the gold standard for honest FHA, or VA mortgage lenders. http://JamesBNutter.Com

National Mortgage Complaint Center Warns Homeowners About Mortgage Refinance Scams & Explains How Homeowners About To Refinance Can Save Money

Tuesday, November 1, 2011

The National Mortgage Complaint Center is one of the most quoted groups in the nation on predatory mortgage lending, and the group is urging homeowners to be on guard against flim flam mortgage refinance scams. The group is warning all homeowners, considering a refinance to not fall for a radio commercial, or Internet pop up advertisement offering 30 year fixed rate mortgages below 2.6%. The 2.6% type mortgage radio commercials, are not in fact 30 year fixed mortgages, they are adjustable rate mortgages, that will only stay at the teaser rate for a certain length of time. The group is also saying, "If you are about to refinance, almost every U.S. State requires title insurance companies to offer a reissue rate, that is greatly discounted over the title fee, a homeowner originally paid for the mortgage. The National Mortgage Complaint Center says, "typically mortgage lenders, or banks fail to tell a homeowner about the title insurance reissue rate. The reissue title insurance rate typically will save a homeowner about to refinance their home hundreds of dollars. The catch is the homeowner has to use their existing title insurance company for the refinance." http://NationalMortgageComplaintCenter.Com

(PRWEB) November 01, 2011

The National Mortgage Complaint Center is urging homeowners thinking about refinancing their home to not fall for a slick radio, or Internet advertisement offering interest rates that do not exist. The group says, "As we write this press release we are looking at a phoney Internet pop up ad that says, quote en quote Mortgage Rates hit 2.6%. Its not a 30 year fixed interest rate, and we think this is misleading. If a homeowner wants to see what the current best interest rates are nationwide, Google American Interbanc, go to their web site, and click on their rate page. We have endorsed this company five years in a row, and while they may not lend in your state, their rate sheet will give you an accurate picture of national mortgage interest rates." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center is also urging homeowners about to refinance their mortgage to reuse their existing title insurance company, because most states require title insurance companies to offer what is called a reissue title insurance rate, at a significant discount. What this all translates into hundreds of dollars in savings to an average homeowner, about to refinance their home loan. http://NationalMortgageComplaintCenter.Com

National Mortgage Complaint Center Warns About The US Residential Real Estate Market & Urges Congress To Restore The Home Buyers Tax Credit That Includes Investors

Thursday, September 1, 2011

The National Mortgage Complaint Center is warning of further US residential real estate valuation declines, based on new information related to US foreclosures. The group worries if the US residential real estate markets do not soon stop their declines, a second recession might be a optimistic thing. The group has called President Obama's, or former House Speaker Pelosi's attempts to help homeowners in foreclosures, or loan modifications, an utter failure, and a waste of taxpayer money. The group says, "We desperately need to stabilize the US residential real estate markets, and we think restoring the Federal Tax Credit for a home purchase would a huge step in the right direction. However, this time the Congressional Federal Tax Credit should be increased to $15,000, and it should be inclusive of not just first time home buyers, it should apply to every qualified home buyer, including investors." The National Mortgage Complaint Center says, "With the enormous devaluations we have seen in most US residential markets, we need to stop the hemorrhaging, and do something meaningful to stabilize one of the most vital aspects to the US economy-our residential real estate markets." http://NationalMortgageComplaintCenter.Com

(PRWEB) September 01, 2011

The National Mortgage Complaint Center is urging US House of Representatives Speaker John Boehner to introduce immediate legislation that restores the Federal Tax Incentive Plan for home buyers. However, the group says, "the Federal Tax Incentive Home Purchase Program should not be limited to first time home buyers only. We believe a more robust federal tax incentive plan is called for, to include not just first time home buyers, but all qualified home buyers, including investors. Someone needs to step up to the plate to rescue the US residential real estate markets, and leadership is needed-now." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center is now warning, "If someone in the federal government does not exert some leadership immediately, it might be too late for the US residential real estate markets, and our economy. We appreciate the concept of free enterprise, and or risk, and return is lost on President Obama, but someone in DC had better start thinking outside of the box now, or it could be too late to do anything about the sinking US residential real estate markets." The National Mortgage Complaint Center is also warning, "Now would not be a time for the US Congress to allow President Obama, and former House Speaker Pelosi to make an Economic Social Statement, with another insane program that allows individuals not qualified to buy a home, to get one. Now is the time to let the free enterprise system work, for qualified buyers, with tax credits being the incentive for participation." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, "On the topic of the US Federal Government, mortgages, and failure, we have a gigantic problem in Florida, and the extreme US Southeast involving imported toxic Chinese drywall, and probably 200,000+ homes. Typically these homes turn into foreclosures, because of homeowner fears about health effects to themselves, or their children. These fears are not unfounded. In a typical Florida home, or condominium, that contains toxic Chinese drywall, the electrical wires turn black, and copper tubes, or pipes also turn black, get pitted, and leak. The astonishing thing to us is in many to most cases US Taxpayer owned Fannie Mae gets the house as a foreclosure, and simply resells it to a new home buyer, with the only disclosure being As Is. As soon as the Florida, or Gulf States foreclosure buyer discovers the home contains toxic Chinese drywall, the home becomes a foreclosure all over again. And President Obama is contemplating getting the US Federal Government into the mortgage business? Has everyone in Washington, DC lost their minds? President Obama has yet to mention the toxic Chinese drywall disaster in Florida, or US Gulf States one time in public, after nearly three years in office?" http://NatonalMortgageComplaintCenter.Com

For more information about the imported toxic Chinese drywall disaster please visit http://ChineseDrywallComplaintCenter.Com

National Mortgage Complaint Center Wants To Hear From US Homeowners If Their Bank Or Loan Servicer Stuck Them With Forced Placed Insurance

Monday, June 6, 2011

The National Mortgage Complaint Center is beginning a national initiative to expose banks, or loan servicing companies for ripping off home owners with forced placed insurance, and they literally want to hear from every recent victim. What is forced placed homeowners insurance? Typically forced placed insurance was put on homes, that were no longer occupied, because of issues related vandalism, and increased liability to the bank, in most cases because the home was unoccupied. As a rule forced placed insurance can cost three, to five times what a standard homeowners insurance policy costs. The National Mortgage Complaint Center says, "The big banks, and the major loan servicing firms have figured out there are huge profits in forced placed insurance, so they are arbitrarily putting forced place insurance on any homeowner they possibly can. We have had enough phone calls from consumers to know this is a gigantic problem, so we are encouraging homeowners, whose bank, or loan servicing company has stuck them with ultra expensive forced placed insurance to tell us their story via our contact on our web site." http://NationalMortgageComplaintCenter.Com

(PRWEB) June 06, 2011

The National Mortgage Complaint Center is one of the premier advocates, and watchdog's for the US mortgage lending industry. The group is now beginning a new initiative designed to identify any US homeowner, who is needlessly paying for forced placed insurance to their bank, or loan servicing company. The National Mortgage Complaint Center says, "We believe there are 10,000's of US homeowners, who are paying an insurance premium three, four, or five times what it should cost, because their bank, or loan servicing company signed them up for a forced place insurance policy. We have recently talked to numerous homeowners, who actually have a standard homeowners policy with one of the major US property casualty carriers like State Farm, or Allstate insurance, and the horrified homeowner has just discovered their bank, or loan serving company also has a forced placed insurance policy on the same home. The only reason the homeowner even noticed was they thought their payments into reserves were way too high. We want to hear from any homeowner, who has been victimized by this practice." For more information please contact the National Mortgage Complaint Center via its web site at http://NationalMortageComplaintCenter.Com

The National Mortgage Complaint Center says, "In other instances of the forced place insurance scam, the bank, or loan servicing company has told the homeowner, quote unquote forced placed insurance will be required on your home." They say, "Unless the house has been abandoned, it is vacant, or the homeowner has stopped making mortgage payments, forced placed insurance should never be arbitrarily forced down the throat of an innocent homeowner. We do not think, we know the number of victims is in the 10,000's, or higher, its wrong, and we want to identify every US homeowner, who is a recent victim of the forced placed insurance outrage." The National Mortgage Complaint Center is encouraging homeowners victimized by the forced place insurance scam to contact them via the web site at http://NationalMortgageComplaintCenter.Com

National Mortgage Complaint Center Blasts All US Banks for Failing to Give Homeowners Consistent Customer Service on Mortgage Loan Modifications

Monday, April 4, 2011

The National Mortgage Complaint is blasting all US banks, and mortgage servicing companies for failing to allow all US homeowners wishing to do a loan modification, or attempting to do a loan work out with the opportunity of ever talking to the same bank, or loan servicing department customer service representative twice. This also translates into the bank, or loan servicing company never telling the borrower the same thing twice. The group says, "We currently have about 2 million plus US homes in the foreclosure pipeline for 2011, and we think there are another 2 million that are coming. In many cases because the bank, or mortgage servicing company never really bothered to treat the homeowner with anything close to a consistent customer service approach, or consistent work out plan. The net result is we just get a lot more foreclosures nationwide. How stupid is that?" http://NationalMortgageComplaintCenter.Com

(Vocus/PRWEB) April 04, 2011

The National Mortgage Complaint Center is accusing all US banks, and loan servicing companies of really dropping the ball, when it comes to assisting potentially a million plus US homeowners trying to qualify for a loan modification, or a mortgage loan work out. The group says, "When a desperate US homeowner attempts to call a bank, or loan servicing center, they never get the same customer service representative twice, and more often than not they are getting conflicting information. As an example one customer service representative, will tell a homeowner, who has always been current on their mortgage to stop making payments on their loan-in order to qualify for a loan modification? We have literally talked hundreds of consumers, who have been told to stop making their mortgage payments--the problem--the bank representative just instructed the homeowner to blow up their credit score, by missing mortgage payments! How amazingly stupid is that? Then another customer service representative will tell the same borrower--Oh my God you've stopped making mortgage payments-you are now in foreclosure." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, "If the national news media is actually interested in this US loan servicing disaster story--just let us know--we will do a press release targeting any US city you want & you can have a little town hall meeting with victims of this nonsense--the only problem--you in the press will need to rent the facility, and its going to need to be really, really big--because you will have tens of thousands of US citizens in any big, or medium sized metro area, who all will have a mortgage loan servicing nightmare story for you. The problem is that vast." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, "So how do we fix this loan servicing nightmare for all US homeowners? Actually, we think its kind of simple. When a borrower calls their bank about a mortgage issue, they should be assigned a specific customer service representative, who will provide the consumer with their full name, customer ID, and e-mail address. If its a loan modification, or mortgage work out, this bank, or loan servicing representative will stay with the consumer until whatever the task at hand is accomplished, and the bank rep sends the borrower specific instructions-not this verbal--stop making your payments nonsense." They say, "A huge part of our current US mortgage, or US real estate disaster is a direct result of banks, or loan servicers never providing the borrower with anything in writing, never allowing the homeowner to get an e-mail, or anything in writing, and never getting the same customer service person twice. This needs to stop now, if we ever have any hope of putting the current US real estate disaster in our nations rear view mirror-US banks, as well as loan servicing companies have to do a much better job, and the US Congress needs to stop giving banks money for mortgage bailouts, that are nothing more than an absolute waste of taxpayer money." http://NationalMortgageComplaintCenter.Com

National Mortgage Complaint Center Mocks The Feds' Transparency Mortgage Fee Attempts & Says It's Time For A US Mortgage Revolution

The National Mortgage Complaint Center is mocking the US Department of Housing & Urban Development's attempts to make the financing or refinancing fees for the average US consumer more transparent. The group says, "We are demanding HUD go back to the old one page Good Faith Estimate format, that at a minimum allows consumers to see who is making what. This new multi-page mortgage disclosure form looks like something that was designed by intoxicated bureaucrats at the IRS." The group says, "Further, we are demanding that banks and mortgage bankers be forced into disclosing all kickbacks, or quote en quote rebates know as yield spread premiums, along with the service release premiums, so the consumer can actually see how much the lender is making on a mortgage transaction." They say, "The US mortgage system is extremely wasteful, it is full of needless fees, redundancy, title insurance fees that are way too high, and we think it's the right time for a flat mortgage fee system for most homeowners--not the 'we are going to bleed you for every nickel and dime' mortgage system we have today." http://NationalMortgageComplaintCenter.Com

(Vocus/PRWEB) March 01, 2011

The National Mortgage Complaint Center is saying, "The US mortgage system is broken, it needlessly wastes the consumer's money, it gouges the consumer with schemes like title insurance costs, or lacks transparency with respect to kickbacks such as the yield spread premium, and it really is time for a revolutionary change in the mortgage world." They say, "Most consumers have never heard of a yield spread premium kickback mortgage brokers have to disclose, or are supposed to disclose, but banks have no such requirement, even though they get the very same kickback." The group is saying, "Most current US homeowners have no clue they are paying a higher monthly mortgage payment because of the yield spread premium kickback scheme--but they are. We are simply saying it's time for a change. The future of the mortgage industry is a flat fee approach regardless if the home costs $100,000, or $500,000--not this nonsense we have today." http://NationalMortgageComplaintCenter.Com

But the Federal Government will fix the US mortgage mess when it comes to financing, or refinancing a home, right? The National Mortgage Complaint Center says, "We have lost all faith in the federal government's ability to protect consumers in the mortgage process. Had the US Department of Housing & Urban Development, or the US Congress been on top of things in 2003 or 2004, we probably would not have the current US real estate disaster. Tragically they were all asleep at the switch, and with the federal government's or Congress's recent mortgage transparency attempts like the new Good Faith Estimate, it appears to us they are all still asleep at the switch, or worse yet, bought and paid for by the banking, mortgage banking or title insurance industry's special interest groups." http://NationalMortgageComplaintCenter.Com

So how would the new flat fee mortgage process work? The National Mortgage Complaint Center says, "Initially the flat fee mortgage fee service would be designed to service borrowers who have very good credit, with FICO scores of 740+. There would be a flat fee that would cover everything including loan origination fee, credit report, appraisal fee, processing, tax certification, and flood certification, all bundled into one fee, say $2500 to $3000, regardless if the home costs $100,000 or $500,000. This would save the typical borrower $1000's." They say next, "We would propose a completely brand new national title insurance company that would offer rates perhaps as low as one-third of what they are today--perhaps even closer to one-quarter of what they are today, there literally is that much profit in title insurance." The group says, "and finally we would have escrow hubs in each state, that do nothing more than prepare documents for closing, and disburse funds to sellers, mortgage holders, etc. All closings would be done by mobile notaries that come to the borrower's home for closing." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, "There is an old saying--build a better mouse trap and people will line up to get it. The flat fee, bundled mortgage service is the future for US high credit rated mortgage and equity-driven originations. Why is the cost of doing a $500,000 mortgage greater than a $150,000 mortgage cost when the same amount of work is done in each transaction?" They say, "The flat fee, bundled mortgage service is not only the future, it instantly makes all major US banks or existing title insurance companies obsolete, and they would be instantly forced to change or face extinction." The group says, "The win for the consumer would be obvious--instead of paying $6000 to $10,000 for a mortgage directly or indirectly, they would be paying close to half of this amount, and because the service has a flat fee, the service would be designed to get the borrower the lowest possible rate. The flat fee mortgage service would make its profits from volume, as opposed to gouging every consumer as much as possible." http://NationalMortgageComplaintCenter.Com

Ever hear of a Service Release Premium? The National Mortgage Complaint Center says, "A SRP, or Service Release Premium, is the amount an investor will pay a bank or mortgage banker for your loan. It's rarely, if ever, disclosed to the borrower." They say, "In the flat fee concept, the SRP will be included and disclosed to the consumer up front. It can range between $1000 to $3000 depending on the loan amount and the quality of the borrower." The group says, "The US Mortgage System is flawed, it is inefficient, it needlessly gouges consumers, it really is time for a change. So who wants to be the next Bill Gates?" http://NationalMortgageComplaintCenter.Com