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#1414357 - 07/13/10 04:46 PM Transfer Taxes & Recording Fees Not on 1st GFE but
Anonymous
Unregistered

The GFE was given to the borrower on June 2nd, where the Loan Specailsit realized she had given the borrower 240 years to pay back the loan and did not charge any transfer taxes or recording fees and re-disclosed a new GFE. The first one the customer got and signed on 6-14-10 and retruned. The second GFE which gave the customer 20 years to pay back the loan and disclosed the transfer taxes and recording fees came back dated 6-17-10. Does the Bank need to refund the borrower the ransfer taxes and recording fees? They were charged on the HUd.

lease help.
Thanks

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#1414428 - 07/13/10 06:52 PM Re: Transfer Taxes & Recording Fees Not on 1st GFE but Anonymous
Chance Offline
Junior Member
Chance
Joined: May 2009
Posts: 38
Where it never rains!
Unfortunately, your first GFE was your binding GFE, regardless of the omission of transfer taxes or fees. Without a qualified changed circumstance, which is not apparent in your post, the issuance of a revised GFE was not allowable. Therefore, you are bound by the fees disclosed on the inital GFE and IMO, you must cure the discrepancy and refund the amounts outside of tolerance.

Hope this is helpful.

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