Dodd has ...The Senate Banking Committee’s housing package contains some very important reforms and one very bad idea. Chairman Chris Dodd’s (D–CT) version of legislation to use the Federal Housing Administration (FHA) to refinance at-risk mortgages at a lower interest rate in return for a cash fee is still as wrong a way to deal with the housing finance problems as the House-passed version. Broker fees may come in different forms, either as an addition to your interest rate, a separate fee, or points paid at closing. With all these additional fees, you might find that your best mortgage rate deal may not sound so great after all.
