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#1547400 - 05/06/11 03:53 PM Appraisal Fee Mistakenly Omitted from GFE
Atreides Offline
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Joined: Nov 2005
Posts: 46
If you mistakenly omit an appraisal fee from the GFE, how should you disclose the fee on the HUD? Should you disclose it in the borrower's column and then make an adjustment on one of the blank 200 lines on page 1 of the HUD? Or is it OK to just disclose the fee in Line 804 as a POC charge to the lender?

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Lending Compliance
#1547410 - 05/06/11 04:02 PM Re: Appraisal Fee Mistakenly Omitted from GFE Atreides
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,422
Bloomington, IN
The actual fee will be shown in the buyer's column on line 804.

On page 3 in the comparison chart $0.00 will go in the GFE Column and the actual charge will go in the HUD Column.

The cure, if applicable, will be shown in the 200 series on page 1 of the HUD.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1547429 - 05/06/11 04:17 PM Re: Appraisal Fee Mistakenly Omitted from GFE Dan Persfull
Patricia Offline
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Joined: Mar 2011
Posts: 327
Kansas
I think this would be a similar situation --- OTI included in Block 4 of the GFE not listed in Block 5. So on page 3 in the comparison chart $0.00 will go in the GFE column and the actual charge will go in the HUD column regardless of who pays the OTI. Am I right?

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#1547460 - 05/06/11 04:39 PM Re: Appraisal Fee Mistakenly Omitted from GFE Patricia
Truffle Royale Offline

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Yes, Welsh, you are correct. Also, regardless of who pays for it, if the fee knocks you out of tolerance you have to cure for it.

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#1547645 - 05/06/11 06:50 PM Re: Appraisal Fee Mistakenly Omitted from GFE Truffle Royale
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,422
Bloomington, IN
Originally Posted By: Truffle Royale
Yes, Welsh, you are correct. Also, regardless of who pays for it, if the fee knocks you out of tolerance you have to cure for it.


Ditto and I will add that the borrower gets the cure regardless who paid the fee.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1547648 - 05/06/11 06:53 PM Re: Appraisal Fee Mistakenly Omitted from GFE Dan Persfull
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,285
Don't ALL cures go to the borrower? Not to be snotty. Just confirming for my own sanity's sake.

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