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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule Reduce Lender Fee to avoid High Cost Loan
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#2089023 - 07/20/16 07:29 PM Reduce Lender Fee to avoid High Cost Loan
Wannaknow Offline
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Joined: Jul 2011
Posts: 238
If we reduced our Lender fee at closing docs to avoid a high cost loan - is this a problem?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2089069 - 07/20/16 11:06 PM Re: Reduce Lender Fee to avoid High Cost Loan Wannaknow
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
No.
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#2089232 - 07/21/16 05:54 PM Re: Reduce Lender Fee to avoid High Cost Loan rlcarey
ADN Offline
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Joined: Mar 2007
Posts: 222
Do you worry about fair lending if you reduce a standard fee that is normally always assessed?

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#2089237 - 07/21/16 06:06 PM Re: Reduce Lender Fee to avoid High Cost Loan Wannaknow
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
Well, that is always a consideration. What is causing this loan to be high cost??
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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