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#1337007 - 02/03/10 09:02 PM Consumer Loan
ComplianceisOK Offline
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ComplianceisOK
Joined: Jan 2005
Posts: 167
Dickinson, ND
In the fed box the total filing fees are to be listed. Would this only be the actual amount for filing or would the upcharge also be inlcuded??

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Lending Compliance
#1337105 - 02/03/10 10:36 PM Re: Consumer Loan ComplianceisOK
Mrs. Rizzo Offline
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Mrs. Rizzo
Joined: Mar 2006
Posts: 10,392
Curled up by the fire...
What kind of loan is it? Is ther a particular fee you're asking about?
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#1337122 - 02/03/10 11:02 PM Re: Consumer Loan Mrs. Rizzo
ComplianceisOK Offline
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ComplianceisOK
Joined: Jan 2005
Posts: 167
Dickinson, ND
It is a loan for a vehicle and the fee is the amount for filing of the title.

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#1337144 - 02/04/10 12:30 AM Re: Consumer Loan ComplianceisOK
rlcarey Offline
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rlcarey
Joined: Jul 2001
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Galveston, TX
What do you mean by upcharge? Only the amount that is actually paid to public officials can be excluded if disclosed properly.
Last edited by rlcarey; 02/04/10 12:30 AM.
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#1338076 - 02/04/10 11:16 PM Re: Consumer Loan rlcarey
ComplianceisOK Offline
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ComplianceisOK
Joined: Jan 2005
Posts: 167
Dickinson, ND
The actual fee paid to the public officials is $5 and they add $1 for a total of $6. They include the entire amount as a finance charge because it is easier and they do not have to break out the dollar. However, on the note in the fed box there is a place where the filing fee is documented. Is it wrong to include the entire amount of $6 instead of the actual that is going to the public offical of $5? I know this is really a mininal amount but I am looking for the correct way it should be done.

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#1338098 - 02/04/10 11:43 PM Re: Consumer Loan ComplianceisOK
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
If you are going to treat it as a finance charge - why disclose it in the Fed box? You only have to do that to exclude it from the finance charge. Just leave it off totally.
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