That “courier fee” for a digital closing gets me every time—like, what are they couriering, my email? I’ve seen some wild stuff on closing disclosures over the years. You’re right about local banks and credit unions being more upfront, though sometimes even they sneak in a “processing” or “doc prep” fee that’s just… vague. I always tell folks to ask for a full breakdown before signing anything, even if it feels awkward.
Curious if anyone’s had better luck with online lenders lately? I’ve noticed some of the big-name fintechs advertise super low fees, but then you dig in and there’s a “technology platform fee” or something equally mysterious. Are those actually any more transparent, or just a different flavor of the same old game?
Those “technology platform fees” crack me up—like, what, are they charging me for using their website? I tried one of those big online lenders last year and the fees were just as confusing as the old-school banks, just with fancier names. Honestly, I felt like I needed a decoder ring to figure out what I was actually paying for. Local credit union wasn’t perfect either, but at least when I asked questions, they didn’t act like I was bothering them. Maybe it’s just a pick-your-poison situation...
Honestly, I felt like I needed a decoder ring to figure out what I was actually paying for.
That’s exactly how I felt when I helped a client with one of those “no branch” lenders. The list of fees was like a menu at a fancy restaurant—except you don’t get to pick what you want. Has anyone actually managed to get a straight answer about what those tech fees even cover? I’m starting to wonder if the transparency thing is just marketing talk...
The list of fees was like a menu at a fancy restaurant—except you don’t get to pick what you want.
That’s exactly how it felt when I refinanced last year. I kept asking about “processing” and “technology” fees, and the answers were always super vague—like, “it covers our online platform and document management.” But what does that even mean? I never got a breakdown.
Has anyone actually seen a lender spell out what each tech fee is for, line by line? Or is it just bundled into the cost because they know most people won’t push back? I’m all for paying for convenience, but it’d be nice to know what I’m actually paying for. Maybe I’m missing something, but it feels like transparency is still pretty hit or miss, even with these new digital lenders.
I kept asking about “processing” and “technology” fees, and the answers were always super vague—like, “it covers our online platform and document management.” But what does that even mean? I never got a breakdown.
I had a similar experience when I started looking at lenders last fall. The “technology fee” was tacked on at the very end of the estimate, and when I asked for specifics, I got a canned answer about “maintaining secure systems.” No itemized breakdown, just a lump sum. It felt like they expected me to just accept it without question.
What really threw me was how inconsistent the fees were from one lender to another. One had a $250 “e-closing” fee, another called it a “digital convenience charge,” and a third didn’t mention it at all until I pressed for a detailed closing cost worksheet. Even then, the explanation was vague—something about “ongoing software improvements.” I get that tech costs money, but if I’m paying for it, I want to know exactly what I’m getting.
I actually tried to dig into the numbers by comparing Loan Estimates from three different companies. The only thing that was clear is that there’s no standardization. Some lenders roll the tech fee into “origination,” others list it separately, and a few just lump everything under “processing.” It’s confusing, and I don’t think it’s just because I’m new to this.
Honestly, I’m not sure if pushing back would have changed anything, but it definitely made me more skeptical of the “digital-first” pitch. I thought online lenders were supposed to be more transparent, but in practice, it feels like they’re just as murky as traditional banks—maybe more so, since they invent new fees that didn’t exist before.
I guess it comes down to reading every line of the estimate and asking questions, even if the answers are vague. But yeah, it would be a lot easier if the industry had to spell out what each fee actually covers. At this point, I’m just hoping I didn’t overpay for someone’s “platform maintenance.”
