MN Banker
Platinum Poster
Joined: Aug 2006
Posts: 980
I'm going back to 2009/2010 with this question!
I know somewhere it is or used to be written that we have to disclose all lender fees (underwriting, processing, etc) in block 1 even if we are waiving them, and in that case we would show a credit in block 2 for the amount being waived.
I've looked and cannot find it anywhere. Does anyone happen to know where this is stated? Thanks!
I agree. If we don't charge a loan fee, for instance, on the short-term phase of a 2-close, we simply do not disclose it because it just does not exist.
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My opinion only. Not legal advice.