Let me preface this by saying we don't do a lot of consumer loans but we do have a few mortgage loans onthe books. We have a mortgage loan that the loan officer wants to modify and lower the rate. He has asked if we can charge a modification or adminstration fee and if so, how much? We have never charged fees in the past whether it be a mortgage loan or a car loan so this is new territory for us. Your guidance is appreciated.

Anyone?

Would Chapter 342.309 (9) apply?
(9) an administrative fee, subject to Subsection (c), in an amount not to exceed $25 for a loan of more than $1,000 or $20 for a loan of $1,000 or less

So I can charge a fee but only $25?

Bump.