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#1408088 - 06/25/10 01:15 PM Flood Cert Fees
blvsinangels Offline
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Joined: Aug 2003
Posts: 372
Can someone help me out and tell me if we are allowed to profit on charging flood certification fees to our customers? Our flood cert company charges us $17 per certification and we want to charge the customer $20. It seems like I read somewhere that we cannot profit from flood cert fees or cbi fees. ??? Thanks.

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#1408095 - 06/25/10 01:23 PM Re: Flood Cert Fees blvsinangels
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
That is up-charging and up-charging is a violation of RESPA and I can speak from experience. One of my first tasks after being hired was to clean up a reimbursement order. Our vendor lowered their price and no one made the adjustment in the system and I had to scrub 2 years (back to the date the price was lowered) of files and make appropriate refunds. Needless to say my first 60 days here was not fun.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1408207 - 06/25/10 03:10 PM Re: Flood Cert Fees Dan Persfull
blvsinangels Offline
Gold Star
Joined: Aug 2003
Posts: 372
Yikes! Thanks Dan!!

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