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#1148314 - 03/19/09 10:18 PM Finance Charge or Fee?
carpenter Offline
Member
Joined: Sep 2006
Posts: 90
We are considering a Program with our sister bank that if a borrower closes a loan with us using a certain home builder our sister bank will give a credit to the applicant. Would this credit amount show as a negative finance charge or a negative fee on the TIL ?

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Lending Compliance
#1148410 - 03/20/09 11:21 AM Re: Finance Charge or Fee? carpenter
Richard Insley Offline
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Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
There's no such thing as a negative FC.
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...gone fishing.

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#1149061 - 03/20/09 07:55 PM Re: Finance Charge or Fee? Richard Insley
carpenter Offline
Member
Joined: Sep 2006
Posts: 90
I mean do we off set the Finance Charge or the Fee for the credit amount?

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#1149071 - 03/20/09 08:01 PM Re: Finance Charge or Fee? carpenter
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
Lender credits are to be shown on one of the blank lines in the 200 - 209 series. See question # 12.

http://www.fdic.gov/news/news/financial/2000/fil0045a.html
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The opinions expressed are mine and they are not to be taken as legal advice.

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