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#2303452 - 15 hours ago Corresp. Transfer Fee - Section "H"?
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,438
California
We are selling a loan to a correspondent bank, and they charge a Transfer Fee. Would that be disclosed on the LE and CD in Section "H" for Other? Would this fee impact the APR? Thank you.

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#2303454 - 3 hours ago Re: Corresp. Transfer Fee - Section "H"? Tarhe
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 84,620
Galveston, TX
It is not a voluntary fee, so it cannot go in Section H. Since they cannot shop for the service provider, it would have to be in Section B. Since such a fee is not specifically excluded from the finance charge in 1026.4 and it would not be payable in a cash transaction, it would be a finance charge.
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