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#1528879 - 03/30/11 04:31 PM Appraisal Fee and MDIA
Patricia Offline
Gold Star
Joined: Mar 2011
Posts: 335
Kansas
The bank I just started working for collects the appraisal fee at closing so do we still need to get an "intent to proceed"?

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Lending Compliance
#1529235 - 03/31/11 01:14 AM Re: Appraisal Fee and MDIA Patricia
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Can you try this question again. What does collecting an appraisal fee at closing have to do with MDIA or RESPA's requirement of getting an intent to proceed????
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#1529327 - 03/31/11 01:27 PM Re: Appraisal Fee and MDIA rlcarey
Patricia Offline
Gold Star
Joined: Mar 2011
Posts: 335
Kansas
Oh good grief. I meant RESPA and collecting a fee has nothing to do with the intent to proceed. The intent to proceed is about giving the customer ample time to shop after they have received the bank's GFE and they tell us they want to proceed. Right?

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