Legal Question in Consumer Law in California

Mortgage Point Payment

I recently refinanced my home. I was given a quote for the interest rate and the amount of fees to be paid. My loan was to have zero points of any kind and $500 fixed fees. I have a California rate lock agreement and initial good faith estimate paperwork that support this. When I got my final closing statement, I realized that I was charged 1/2 point in a loan origination fee. I went back and looked at my final paperwork and realized that it also had documented a 1/2 point and I overlooked that as part of the many pages that had to be signed. I contacted my loan agent and they agreed that this was a mistake and this should be refunded. I have email copies that confirm these conversations. Several weeks later, the mortgage company has come back to me and said they will not pay me back that 1/2 point since I signed the final paperwork. I am considering a small claims case against them. Do I have a leg to stand on since I did sign that final paperwork?


Asked on 4/02/03, 6:57 pm

1 Answer from Attorneys
Benjamin Berger Berger-Harrison, A Professional Corporation

Re: Mortgage Point Payment

You can make an argument. You argue that the parties agreed to something other than what appears in the contract. You assert that the terms in the contract are only there because of a mistake.

Your emails can support this, correct?

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Answered on 4/02/03, 11:38 pm


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