Mortgage Law


WILLSA mortgage usually costs you twice as much as your home. However, as the current mortgage crisis demonstrates most people spend much less time selecting a mortgage than selecting a home. Mortgage Law is a separate and distinct area of practice in which a licensed attorney guides and protects borrowers through the mortgage process by providing legal advice on loan terms, loan programs, rates and expenses. In addition a mortgage attorney can act as a "conduit or "bridge" to the Secondary Market.

Thousands of borrowers understand that using a Mortgage Attorney such as Thomas A. Moseley, Chartered for their home financing needs was the smartest decision they could make. We legally represent and are specially trained to guide and protect you throughout the mortgage process by providing legal advise on loan terms, loan programs, rates and expenses. In addition, we can assist you in applying directly to the Secondary Market for a commission free mortgage. Unlike traditional lenders, the advice you receive from Thomas A. Mortgage, Chartered is not driven by commission, but by the requirement to act in your best interest.

Disclosure is not the same thing as understanding. When applying for a mortgage loan the government requires that the lender provide a number of disclosure documents to insure the borrowers understand the different options and costs. The large number of documents which contain terms like APRs and Yield Spread Premium, make the process all but impossible to understand.

As a Mortgage Attorney, we will explain these terms to you and will guide and protect you throughout the mortgage process.

We are ethically obligated to represent your best interest in the transaction and are required to put your interest above ours. Loan officers do not have the same duty to protect your interest.

Different types of loan programs pay different amounts of commission to the loan officer. Unfortunately, sometimes the advice you receive is based on the commission paid to the loan officer.

Most borrowers are unaware that traditional lenders can earn extra fees by "selling" you a loan at an interest rate higher than necessary. These extra fees are called the Yield Spread Premium or Par Plus Credit and average between $1000 and $1500 per $100,000 on each mortgage transaction. Most borrowers are unaware of these payments because the lender receives these monies after closing.

By using Thomas A. Moseley, Chartered you can elect to keep these extra fees and apply them to your closing costs or you can use the fees to receive a lower interest rate.