We are coverting our residential mortgage document provider and our new provider has a final TIL that does not reflect the filing fees. During the past 30yrs in lending, I have always had filing fees on a TIL so needless to say, I am cautious to move forward without them.

I questioned our new doc provider who has responded below:
§226.18(o) of the regulation which reads:

Certain Security Interest Charges

1. Format. No special format is required for these disclosures; under section 226.4(3), taxes and fees paid to government officials with respect to a security interest may be aggregated, or may be broken down by individual charge. For example, the disclosure could be labeled “filing fees and taxes,” and all funds disbursed for such purposed may be aggregated in a single disclosure. This disclosure may appear, at the creditor’s option, apart from the other required disclosures. The inclusion of this information on a statement required under the Real Estate Settlement Procedures Act is sufficient disclosure for purposed of Truth in Lending.

So, if our clients furnish the applicant with a RESPA form, regardless of whether one is required for the transaction, they have complied with this section and a Filing Fees disclosure in the body of the TIL is not required.

Is the RESPA form which is referenced above the HUD-1?

Guru feedback is appreciated.
Regards

Yes, it is referring to the HUD Settlement Statement. As long as the fees are properly disclosed there then you are in compliance with 226.18(o).

Thank you Dan. Filing fees will be shown on the final HUD-1 in the appropriate 1200 section.

Appreciate your prompt feedback.
Regards

I have a question related to this please...sorry to be such a dinghead on this!

So to make certain I understand this, if the info is on the HUD then is it your opinion that the filing fee/recording fee on the FINAL TIL form – is it OK to just leave blank? And if it is blank on the TIL based upon some other commentary I read along with this reg 226.18(e) and 226.18(o), does that mean that we need to include it in the FC?

Also, what if we did provide the information on the TIL but it didn’t match what was on the HUD-1?

Thanks so much!

bump please

Always refer to the OSC (Commentary), 8 out of 10 times you will find your answer.

226.18(o):

. . . The inclusion of this information on a statement required under the Real Estate Settlement Procedures Act is sufficient disclosure for purposes of Truth in Lending. . . .

Missed this part. I would be concerned. Why are they are differing? Which figure is your software using in calculating the amount financed?

If you provide the HUD why are you providing a separate TIL itemization of the amount financed? The HUD substitutes for that disclosure. For all RESPA loans we have the itemization of the amount financed disclosure turned off.