Wells Fargo Home Mortgage Luis Kercado, Loan Officer of Wells Fargo Home Mortgage They said that bank only charge upfront fee of $795, but they do not disclose the back end,,ripoff of 5 point in back West Palm Beach, Florida

My name is Hugo R, Im a Real Estate agent from Highlight Realty, me and my wife Margarita M just bought a villa townhouse 2 months ago, and after two months a decided to talk to a financial advisor and they told that I was ripoff in the back end of our FHA 30years loan, by 5 points that mean in a loan of 74,000 they make a profit of 3,700.00 after they said to me, the loan officer Luis kercado, that as a bank they only charge a upfront fee of 800.00.

My interest rate is for 30yrs fixed FHA at 4.750% but didn't know anything about APR!!!! the APR is 5.44%. The difference between the APR and The Interest rate makes what banks profit in the back end, by law they do not have to disclose this!!! but 5point in the back end is ilegal!!!!I don't have any information if FHA loans has changed the maximun allowance of points in the back end, but I will like to sue this company and the individual loan officer,

Hugo R