Skip to content
BOL Conferences
Thread Options
#2303452 - 17 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.

Return to Top
Lending Compliance
#2303454 - 5 hours ago Re: Corresp. Transfer Fee - Section "H"? Tarhe
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 84,623
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.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z