SOURCE: Swap Negotiators

Swap Negotiators

March 02, 2011 09:03 ET

Commercial Borrowers Pay an Average of $200,000 Each in Hidden Bank Fees in February

Data Accumulated in One-Month Span Highlights Commercial Borrowers' Need for Representation When Entering a Swap

WINTER PARK, FL--(Marketwire - March 2, 2011) - Swap Negotiators, an advocate for commercial borrowers, today announced that borrowers paid on average almost $200,000 each in hidden bank fees for the month of February with one borrower assessed more than $800,000 in undisclosed fees.

While commercial real estate borrowers negotiate their loan terms in good faith, banks are increasingly guilty of adding substantial hidden fees to their interest rate swaps that are commonly used to fix rates on commercial loans. These fees are rarely, if ever, disclosed and are often the result of an unsuspecting borrower's lack of awareness that the fees exist and are negotiable.

These latest findings highlight the growing need for commercial borrowers to solicit the assistance and representation of a swap negotiator to eliminate excessive charges.

"We aim to educate and protect borrowers from these 'bait-and-switch' practices by providing transparency for the borrower," said Greg Warren, managing partner at Swap Negotiators. "Increasingly, we see borrowers with tens of thousands to hundreds of thousands of dollars added on to the swap in addition to the normal banking fees. Unfortunately, these additional fees are hidden from the borrower."

Swap Negotiators represents clients across the U.S. to navigate the complex process of entering, negotiating and unwinding interest rate swaps to ensure the best outcome for the borrower.

About Swap Negotiators
Swap Negotiators is a highly specialized group that provides advocacy and expertise exclusively for commercial borrowers. Swap Negotiators publishes a monthly report of average hidden and undisclosed bank fees paid by commercial borrowers. Located in central Florida, Swap Negotiators provides advice on interest rate swap contracts for commercial borrowers and works in partnership with banks to provide transparent pricing, valuations and ongoing support for the life of a swap. Additional information about Swap Negotiators can be obtained by calling (877) 218-8016 or by visiting www.swapnegotiators.com.

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