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#1650288 - 01/12/12 07:08 PM Credit Report Fees
t0dd Offline
100 Club
Joined: Sep 2004
Posts: 229
We are currently disclosing the costs for our credit report fee to our customers at $50. In most cases at closing if the credit reoprt only costs $20 that is all we would collect. We have recently changed credit bureaus to Kroll Factual Data and have had an instance where a customer had several disputes on his credit report and the costs to clear those disputes were $8 per correction with a total of 8 corrections totaling $64. My questing is, since we only disclosed the $50 for credit report fee is that all we can charge or can we charge the customer $64 due to the costs of the disputes.

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Lending Compliance
#1650458 - 01/12/12 09:15 PM Re: Credit Report Fees t0dd
RulesFollower Offline
100 Club
Joined: Oct 2011
Posts: 185
You can charge the $64.00 but if the aggregate difference of all charges in the Block 3 increase by more than 10% you will have a tolerance cure. You could have also re-disclosed within 3 days of pulling credit to add the fees needed to clear the disputes.

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