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#1645798 - 01/04/12 03:29 PM Evaluation not Appraisal
overregulated Offline
Junior Member
Joined: Sep 2005
Posts: 42
TN
One of our loan processors disclosed the evaluation fee as an appraisal fee under block 3 of the GFE. It is my understanding that in-house evaluation fee should appear under block 1. How do we need to correct this error?

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RESPA
#1645845 - 01/04/12 04:44 PM Re: Evaluation not Appraisal overregulated
RulesFollower Offline
100 Club
Joined: Oct 2011
Posts: 185
You are stuck with your block 1 fee (if you would have increased it normally using an inhouse evaluation), you will not charge in the appriasal section of page 2 of the HUD and I would drop it from the comparision chart as a service that was disclosed but not purchased by the customer (as to not pad your fees)

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