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#1386178 - 05/05/10 02:58 PM Changed circumstance, another question
joeball Offline
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joeball
Joined: May 2004
Posts: 177
Bluegrass State
I think I already know the answer but I was asked to confirm it.

We are located in SE KY and do some loan in TN and they have Deeds of Trust instead or Mortgages.

We disclosed recording fee charges ($1,203.80) in block 7 - Government Recording Fees on the GFE however an attorney in TN who completed the HUD showed only $106.00 for recording fees and $1,057.80 for Transfer Taxes. I am the first to admit that I do not fully understand the way TN handles this but it appears the HUD is the correct way.

We did not disclose anything in block 8 for transfer taxes and I do not see this as a changed circumstance since it appears the lender did not understand how to properly disclose the filing in TN, but again I was asked to confirm that that is correct.

Thanks.
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RESPA
#1386201 - 05/05/10 03:11 PM Re: Changed circumstance, another question joeball
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
That large of amount would appear to fall under TT, which unfortunately is a zero tolerance, even though it "all falls out in the wash". This is one more example of the lunacy of the new disclosure rules.

Unless TN forbids a purchaser from paying said TT, then I'm afraid you are sunk.
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