Thanks, jlroberts. I didn't specify, but the question was related to consumer loans, not Fannie/Freddie. Our consumer loan documents to not say that we can charge interest on those types of fees, but it seems like the practice isn't uncommon. Just wondering if there are laws against it, it's always easy to write it into our contracts, if it isn't illegal.
I am not finding anything in the state law, anyone know any federal regs that would prohibit it? I suspect not, since Fannie/Freddie are doing it...
Opinions are my own.
"I was gratified to be able to answer promptly. I said I don't know." - Mark Twain