Mortgage Application Fees May Increase

NEW YORK ( -- It's going to cost some borrowers even more to get a mortgage beginning in 2009.
In a recent agreement with New York State Attorney General Andrew Cuomo, Fannie Mae (FNM) and Freddie Mac (FRE, Fortune 500) pledged that they will only buy mortgages from lenders that use independent appraisers. Since these two companies account for more than 70% of all mortgage loans, virtually all lenders will comply with the