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#1982985 - 12/15/14 01:53 PM GFE block 6-Required Service Providers
LizzyP Offline
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Joined: Jul 2006
Posts: 48
TX
If a bank does not require services such as termite, home inspection and they choose the Abstract Company (because there is only one in the area)does Block 6 have to be filled out anyway on the GFE? The Bank gives a written list of providers the customer may choose at the time of GFE.
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#1982990 - 12/15/14 02:05 PM Re: GFE block 6-Required Service Providers LizzyP
rlcarey Online
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rlcarey
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Posts: 79,893
Galveston, TX
Ok - you don't require the borrower to purchase these services as a condition of the loan.

Tell me again why the charges would appear on the GFE and you give them a list of recommended service providers????
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#1982992 - 12/15/14 02:10 PM Re: GFE block 6-Required Service Providers rlcarey
LizzyP Offline
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TX
If they don't require the services then they should not be on the GFE (correct?!) but then they should not have to give the list of written service providers either (correct?!). Examiners have told the Bank that they should go ahead and list them on the GFE and give the written list. I do not think this is correct since they are not requiring these services as a condition of the loan. Am I totally missing something?
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#1982994 - 12/15/14 02:14 PM Re: GFE block 6-Required Service Providers LizzyP
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rlcarey
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Examiners have told the Bank that they should go ahead and list them on the GFE and give the written list.

Which examiners, as they are clearly absolutely wrong??
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#1983005 - 12/15/14 02:56 PM Re: GFE block 6-Required Service Providers LizzyP
LizzyP Offline
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Joined: Jul 2006
Posts: 48
TX
That's what I thought. It is the OCC.
Just wanted to make sure.
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#1983008 - 12/15/14 03:07 PM Re: GFE block 6-Required Service Providers LizzyP
rlcarey Online
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rlcarey
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Galveston, TX
Show them the RESPA FAQ:

GFE – Block 6

1) Q: What charges are disclosed in Block 6 of the GFE?

A: Block 6 of the GFE includes third party services required by the lender where the borrower is permitted to shop for the provider, other than Title services and lender‘s title insurance (Block 4) and Owner‘s title insurance (Block 5). These types of charges include, but are not limited to: survey, pest inspection and other types of inspections required by the lender. Charges that are part of the sales contract, but are not required by the lender, are not disclosed on the GFE.
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