If we use average charge pricing to estimate the appraisal fee for the Loan Estimate, and the actual fee charged is lower….. what charge will be reflected on the Closing Disclosure? ( The Average estimate or the actual fee.)
If we assume it will be the actual fee, different from the initial loan estimate, the customer may be paying less than estimated and if the charge is higher, then the Bank will absorb the additional cost. Will there be a problem if the two fees (Loan estimate and Closing Disclosure) are not identical (zero-tolerance). In no case would the amount be higher than the original estimate? The average charge pricing computations would support the choice of fees represented in the Loan Estimate.