Janet Napolitano said state agencies have reached agreements with lenders consistent with terms of a recently announced federal initiative.Gov. Major lenders in Arizona are agreeing to promote new "workout" arrangements to allow many borrowers to get more favorable mortgage terms. This is also perhaps why mortgage brokers charge high for closing fees. A percentage of the closing fee you pay on a mortgage goes to the mortgage broker's personal funds. This, along with a few more fees, stands as their salary.
