Luring in people shopping for mortgages with a low-ball estimate on settlement costs of the Good Faith Estimate. The low estimate makes the figure seem more appealing to potential consumers.
Related information about bad-faith estimate:
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A "Bad Faith Estimate": Any Recourse? 19 April 2004, Revised December 2, 2006, May 27, 2009 "At our closing last year, I was shocked to find that the title ...
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Definition of bad-faith estimate: Luring in people shopping for mortgages with a low-ball estimate on settlement costs of the Good Faith Estimate. The low ...
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- Mortgage Glossary | Mortgage Terms Glossary from Total Mortgage
"Bad-faith estimate". The practice of low-balling figures for settlement costs on the Good Faith Estimate to make them appear more attractive to mortgage ...