I wasn't sure whether to put this question here or in the RESPA forum.
A customer applied for an interim construction loan and a bridge loan. We provided initial disclosures (GFE/ETIL), the customer provided intent to proceed, we ordered flood, appraisals and survey. Then the applicant decided to put the applications "on hold." The officer wants to send the customer a bill to collect the charges incurred so far for the flood/appraisals/survey. Is this acceptable?
I don't see why it's NOT acceptable, but what if the borrower refuses to pay at this time?
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