twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Rate News | Mortgage Market Index | ARM indices | ARM Statistics
Average fixed and ARM rates. Rate forecasts. Quotes on ARM indexes including COFI, MTA, LIBOR & Treasuries. Rate reset studies and reports. Mortgage rate litigation.


Texas Origination Fees Highest in Country

U.S. closing costs decline from 2008

Sept. 2, 2009

By MortgageDaily.com staff


Loan originators in Texas collect higher average fees than in any other state, a new report indicates. The higher commissions also pushed the state's ranking on overall closing cost to No. 1.

On a $200,000 mortgage in the Lone Star state, closing costs averaged $3,855 this year, according to a report today from Bankrate.com. In 2008, Texas was ranked No. 2.

Bankrate said nationwide closing costs averaged $2,732 in the latest report, down from $3,118 last year.

The report was based on conforming lender surveys from all 50 states and Washington, D.C. California was broken into two markets -- Los Angeles and San Francisco.

In Texas, total closing costs included $1,566 in origination fees -- also the highest of any state -- and $2,290 in title and closing fees.

The New York City market dropped from No. 1 last year to No. 2 this year. Average closing costs of $3,408 in 2009 included just $1,038 in origination fees and $2,370 in title and closing fees.

The third highest-cost state was Florida, at $3,368, followed by San Francisco's $3,117 and Oregon's $3,059.

In Nevada, a state battered by the nation's highest foreclosure rates, closing costs averaged just $2,276 -- the lowest of any state.

Behind Texas in origination fees was Wisconsin with $1,430, Michigan's $1,398
and $1,369 in both Florida and South Dakota. Origination fees were lowest in New Jersey at $931.

Title and closing costs were highest in New York, at $2,370. Texas followed at $2,290, then Florida's $1,999, Pennsylvania's $1,872 and San Francisco's $1,853.

next story

back to current headlines


SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders