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#1396970 - 05/27/10 01:41 PM Fee for Verification of Deposit?
J2C Offline
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Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
Can we charge a fee to obtain a verification of deposit from another financial institution? Would it need to be disclosed on the GFE? If so, where?

Thanks!
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#1397024 - 05/27/10 02:45 PM Re: Fee for Verification of Deposit? J2C
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,395
Some places charge a fee to give that information. You handle it the same way you do using the Work Number on the GFE. It goes in Block 3.

Now if you're asking if your bank can charge a fee to get a verificaiton of deposit as opposed to the other FI charging the fee to give you the info, I'd think that would be part of your administration and processing fees and should be included in Block 1.

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