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#1990978 - 01/26/15 06:02 PM Adding fees to an existing loan
Dodge Offline
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Joined: Mar 2010
Posts: 246
We are sending documents to be signed by a customer who is working out of state. Is it permissible to add the fedex fee to the customer's loan? These documents pertain to the customer's loan.

Would adding a mailing fee to the loan be new money; therefore, right of rescission would apply?

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Lending Compliance
#1991146 - 01/26/15 09:46 PM Re: Adding fees to an existing loan Dodge
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
Allowable fees are a matter of contract and State law. Increasing the loan balance maybe a RofR trigger under certain circumstances.
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