Answer:
The cure is based on the aggregate of the charges subject to the tolerance.
First published on BankersOnline.com 1/31/11
Reimbursement for GFE/HUD 1 Differences
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Question:
When figuring out possible reimbursement for differences between the GFE and HUD 1, is the total reimbursement based on the total difference in charges (10% tolerance items) or is it on an individual basis? As an example, the appraisal fee is over 10% greater than GFE; however, the title insurance is 25% under the GFE. Can these be netted together or do we just need to consider the appraisal fee variance.
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