8/20/10: Provident Bank GFE and TIL: 4.5%

The Good Faith Estimate (GFE) and Truth in Lending (TIL) disclosures state that the interest rate is 4.5%.

The pdf:


Throughout the documents the interest rate is 4.5%.

Why is the Loan Originator sometimes identified as Provident Savings Bank and sometimes it is Provident Bank Mortgage?

WHO originates the loan?  Who do you sue?

Please note that “loan origination charge” fee $1,075.

The borrowers applied for a NO POINT loan and were not aware of this fee.  Provident Bank loan agent Sophia Wong did NOT disclose this fee.

What is it for?

I’m guessing it includes the 1/4 point ($920)  for no impounds, but we have no idea what the additional $155 are for.

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