FAQs

Mortgage Whistle is a 100% accessible, easy to use, and cost-effective service that assists all participants in the mortgage process by identifying excessive and non-allowable mortgage fees.

Mortgage Whistle's formulas incorporate current federal regulations and guidelines, specifically:

  • The Real Estate Settlement Procedures Act (RESPA)
  • CFPB's Integrated Mortgage Disclosure Rules
  • 38 Code of Federal Regulations 36.4313
  • Department of Veterans Affairs (VA) Pamphlet 26-7 & Circulars

Mortgage Whistle is not a collection agency. The recovery of mortgage overcharges remain the responsibility of the consumer with advocacy from federal regulators as the authority of compliance.



Regardless of whether your mortgage is a purchase, refinance, cash-out refinance, streamline or VA Interest Rate Reduction Refinance (IRRRL), construction, jumbo, or Native American Direct Loan (NADL); they all could have excessive and non-allowable mortgage fees.

Mortgage Consumers benefit from Mortgage Whistle by having the ability to independently verify whether they were overcharged mortgage fees; and if overcharged, would have a basis for filing a claim to recover those overcharges.

Mortgage Lenders who want to build an unparalleled reputation of trust with their customers and confidence with their brand benefit by using Mortgage Whistle; presenting the results to their customers at the closing table.

Federal Regulators benefit by leveraging Mortgage Whistle's 100% consumer accessiblity to prescreen for fee compliance, thus allowing focused attention by regulators on files already identifed with deficiencies (errors), instead of random selection, in the enforcement of government regulations.



Because:

  1. Federal regulators limited resources are ineffective in mortgage fee compliance enforcement.
  2. With limited oversight and without penalties, lenders have little incentive to comply with regulations.
  3. Consumers pay the penalty by way of overcharges, and require a service that will allow them to "trust, but verify."

Mortgage Whistle is as easy as 3-steps and less than 15 minutes:

  • Select your closing document
  • Select whether you have a VA or non-VA home loan
  • Complete and submit Mortgage Whistle's form, and receive your results

Optimally, your lender will offer it and provide it at closing; showing you line-by-line what was entered into your closing documents alongside that entered into Mortgage Whistle, with the results yielding no overcharges.

Else, post-closing at home, in a pressure-free environment.



Your mortgage is a contract, so even if you've closed on your mortgage recently, 15, or 30 years ago, and your mortgage is still in effect, then you may still have the right to recover any excessive mortgage fees you may have incurred at the time of closing, as well as, any interest on these fees that were financed into the loan.



Yes, Mortgage Whistle's full functionality is accessible on a laptop or desktop computer, but may be used with full computational functionality on any handheld device (smartphone or tablet).



For the nominal fee of $4.95, Mortgage Whistle flags up to 9 items:

  • VA Funding Fee
  • Broker Commissions
  • Credit Card Fees
  • Re-Inspection Fee
  • Re-Key Fee
  • Postage, Fax, Phone, Copy & Courier Fees
  • Flat Charge
  • GFE Tolerance, or
  • 0% Tolerance and
  • 10% Tolerance

Items tested are based on:

  • Differing regulations governing VA and non-VA mortgages.
  • Date of closing for non-VA mortgages.

  • The Dodd-Frank Act and the CFPB's Integrated Mortgage Disclosure Rules (effective October 3, 2015) modified the application of mortgage regulations. Mortgages closed prior to this date will use pre-modification application of RESPA, and those closed after this date will use post-modification application of CFPB IMD Rules.





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