Condo Questionnaire Fee- New TRID Rule

Answered by:

Question:

Under the new TRID rule, where would a Condo Questionnaire Fee be disclosed on the Loan Estimate? The questionnaire is required for the transaction but some condos may or may not charge such fee.

Answer:

If the fee a requirement of a third party (the condo association, for example) and not a requirement imposed by the lender as a condition of the loan, it would be disclosed in Section H of the Loan Estimate (if the borrower is expected to pay for it) and Closing Disclosure.