FC tolerance has no impact on APR accuracy. It can cause an understated APR to be excused from reimbursement, however. Search on "cross tolerance" and you'll find a few discussions of this concept.
The more I read the more confused I get! This is the first comment that seems to clear it up some.
PLEASE tell me if I am on the right track here: Assume all are mortgage or dwelling secured loans.
1. You have a loan secured by a dwelling and the F/C is under disclosed $95. The APR is understated by .150% (regular transaction)
The F/C is okay but the APR is within tolerance.
Would you redisclose without reimbursement or would you redisclose with reimbursement since the APR was over? (Even though the F/C is within tolerance)?
2. Say you have a loan where the F/C is overdisclosed by $200 and the APR is overdisclosed by .150
Would you redisclose or do anything else?
3. A prepaid charge of $75 is not disclosed as part of the Finance Charge. The APR is underdisclosed 0.032% which is below the 1/8 of 1% Do you just send a new disclosure- do you send anything at all?
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