What’s a Junk Fee?

American Banker, Feb. 6, 2022–Kate Berry
Pete Mills, senior vice president of residential policy at the Mortgage Bankers Association, said mortgage lenders invested heavily to comply with the CFPB’s integration in 2015 of TILA with the Real Estate Settlement Procedures Act, known as TRID. Most of the fees on home loans are third-party fees including state and local government property taxes, recording fees, home inspection fees and homeowners’ insurance.