I have been reviewing some of our HELOC statements. We have an annual fee that we disclose. The fee description on the statement just has "recurring charge" but we call it an annual fee in our note. I've checked with our core system and tran code the fee has cannot be changed.

I know the fee descriptions should be consistent so the borrower isn't confused. We can added a misc note in our note that the annual fee will be call a recurring charge on the statement. Do you think this will be sufficient?

What system are you using? Sounds like Fiserv Premier. If that's the case, are you filling out the description in the recurring charge addenda? Ours prints whatever is in that field.