\
  The most prestigious law school admissions discussion board in the world.
BackRefresh Options Favorite

Why are banks allowed to CHARGE HUGE FEES for early mortgage repayment?

I get why they want to do it, but I'm not sure why the gover...
Charcoal Glittery New Version
  08/01/20
WHY DOES THE GOVERNMENT ALLOW INDEPENDENT PARTIES TO FREELY ...
crystalline national hissy fit
  08/01/20
it’s not like lenders could just charge higher interes...
insecure locale
  08/01/20
I honestly think higher interest rates and no prepayment pen...
unhinged boyish preventive strike fortuitous meteor
  08/01/20
People don't actually take out loans with prepayment penalti...
up-to-no-good tank
  08/01/20
I’m pretty sureDodd-Frank limited Ginnie/Fannie/Freddi...
unhinged boyish preventive strike fortuitous meteor
  08/01/20
There are still pre-payment penalties?
Smoky crackhouse turdskin
  08/01/20
Of course. Dey Need Dat Intrest.
Brindle Fantasy-prone Sandwich Senate
  08/01/20
then buy a house without some daddy bank you shitheel.
cerise free-loading juggernaut rigor
  08/01/20
I would never sign up for a mortgage that had these
cobalt ladyboy
  08/01/20
(guy who thinks you negotiate residential mortgage agreement...
Brindle Fantasy-prone Sandwich Senate
  08/01/20
never even seen these. do you NOT negotiate terms? need a be...
Arousing Theatre Hunting Ground
  08/01/20
This isn't illegal? Is that only for credit cards?
motley hyperventilating sweet tailpipe
  08/01/20
Didn’t think this existed anymore. Have literally neve...
Beta blathering kitchen
  08/01/20
...
180 digit ratio french chef
  08/01/20
Nonsense
Smoky crackhouse turdskin
  08/01/20
All sold to wall street securitization. Investors demand yi...
naked orange location milk
  08/01/20
Investment property loans have prepayment penalties and yiel...
Canary Mediation
  08/01/20


Poast new message in this thread



Reply Favorite

Date: August 1st, 2020 10:07 AM
Author: Charcoal Glittery New Version

I get why they want to do it, but I'm not sure why the government allows it.

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691409)



Reply Favorite

Date: August 1st, 2020 10:09 AM
Author: crystalline national hissy fit

WHY DOES THE GOVERNMENT ALLOW INDEPENDENT PARTIES TO FREELY NEGOTIATE CONTRACTS? WHY?????

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691410)



Reply Favorite

Date: August 1st, 2020 10:10 AM
Author: insecure locale

it’s not like lenders could just charge higher interest instead. or that borrowers would suddenly find it harder to get a mortgage if banks cant lock in a minimum return in the event interest rates drop

this is almost literally asking why the government doesn’t put a cap on mortgage interest

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691411)



Reply Favorite

Date: August 1st, 2020 12:05 PM
Author: unhinged boyish preventive strike fortuitous meteor

I honestly think higher interest rates and no prepayment penalty would be a good thing. I think the average prole determines a coupon payment based on what they are (or think they are) capable of paying, not on the innate value of the underlying asset. Increasing interest rates would leave the average people still paying the same coupon and the equity of the home sellers would take a hit. New home buyers could get homes for cheaper, and the smart ones would be able to pay if off quickly, passing the costs of usury on to the idiots who live beyond their means.

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691772)



Reply Favorite

Date: August 1st, 2020 12:31 PM
Author: up-to-no-good tank

People don't actually take out loans with prepayment penalties, do they? Are they the worst credit risks?

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691863)



Reply Favorite

Date: August 1st, 2020 12:56 PM
Author: unhinged boyish preventive strike fortuitous meteor

I’m pretty sureDodd-Frank limited Ginnie/Fannie/Freddie eligible mortgages’ early repayment Penalties to the first three years after origination, but I’m amazed by all the second mortgages and other weird financial products proles seem to take out all the time. And LOL at the terms of some of these car loans.

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691943)



Reply Favorite

Date: August 1st, 2020 10:14 AM
Author: Smoky crackhouse turdskin

There are still pre-payment penalties?

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691424)



Reply Favorite

Date: August 1st, 2020 10:17 AM
Author: Brindle Fantasy-prone Sandwich Senate

Of course. Dey Need Dat Intrest.

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691434)



Reply Favorite

Date: August 1st, 2020 10:18 AM
Author: cerise free-loading juggernaut rigor

then buy a house without some daddy bank you shitheel.

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691436)



Reply Favorite

Date: August 1st, 2020 10:18 AM
Author: cobalt ladyboy

I would never sign up for a mortgage that had these

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691437)



Reply Favorite

Date: August 1st, 2020 10:20 AM
Author: Brindle Fantasy-prone Sandwich Senate

(guy who thinks you negotiate residential mortgage agreements with banks)

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691446)



Reply Favorite

Date: August 1st, 2020 12:16 PM
Author: Arousing Theatre Hunting Ground

never even seen these. do you NOT negotiate terms? need a better bank brother

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691820)



Reply Favorite

Date: August 1st, 2020 12:06 PM
Author: motley hyperventilating sweet tailpipe

This isn't illegal? Is that only for credit cards?

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691776)



Reply Favorite

Date: August 1st, 2020 12:19 PM
Author: Beta blathering kitchen

Didn’t think this existed anymore. Have literally never heard of it irl

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691831)



Reply Favorite

Date: August 1st, 2020 12:21 PM
Author: 180 digit ratio french chef



(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691833)



Reply Favorite

Date: August 1st, 2020 12:33 PM
Author: Smoky crackhouse turdskin

Nonsense

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691870)



Reply Favorite

Date: August 1st, 2020 12:23 PM
Author: naked orange location milk

All sold to wall street securitization. Investors demand yield protection i.e. early prepays.

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691835)



Reply Favorite

Date: August 1st, 2020 12:29 PM
Author: Canary Mediation

Investment property loans have prepayment penalties and yield maintenance provisions. Owner occupant loans do not. The government protects consumers.

(http://www.autoadmit.com/thread.php?thread_id=4595725&forum_id=2#40691855)