Loan Origination Charge?
So I am a bank employee trying to refinance my mortgage. Now as a bank employee I am supposed to have a no-fee mortgage but when I received my GFE there’s a 1% loan origination charge on it. When I emailed and asked he stated we have to pay third party fees. So I replied I understand there’s title work, appraisals, and recording fees but wanted to know why there was a loan origination fee. He stated it was for loan processing, commitment, assignment and underwriting fees. Aren’t those all bank fees that should be waived as a bank employee and wouldn’t the origination fee really just being him trying to get paid? I mean in the GFE where it explains the charge it says on origination charge “This charge is for getting this loan for you.”