Zillow is now displaying the funding fee and upfront MI in the total loan amount of the quote details. Typically, these fees are financed, and not part of the lender fees. Since Zillow is posting these, we are essentially double hitting the quote for the value of the fees. We should reconsider if it's necessary to pass these to Zillow now. As of now, we pass the fee, then let lenders rebate against their total fees, which is typically done in the real world, but the funding fee/upfront MI must be paid in full somehow, which is why it's lumped in to the total loan amount. Part of the consideration here is showing only true lender fees. Attached is an example of a lender where the FF is not passed.
|Impact to Existing Customers||Multiple|