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#2104373 - 10/24/16 09:29 PM Portion of Appraisal Fee POC
Newbie06 Offline
Platinum Poster
Joined: Mar 2006
Posts: 731
Appraisal fee is $350.00. The customer POC $300.00. We are trying to show that $50.00 needs to be paid as part of the closing costs and the $300.00 POC on the same line on the closing disclosure. Would it be ok to show the appraisal balance in section K and the 300.00 as POC in Section B?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2104431 - 10/25/16 01:31 PM Re: Portion of Appraisal Fee POC Newbie06
PCBDebbie, CRCM Offline
100 Club
Joined: Aug 2015
Posts: 156
You would show the amounts on one line in section B. In the "at closing" column there would be the $50.00 owed and the "before closing" would be the $300.00 already paid.

Another thing to keep in mind is this is a 0% tolerance item, so if you only disclosed $300.00 then either the lender needs to pay the 50.00 difference or you need to list the 50.00 as a lender credit.

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#2104475 - 10/25/16 03:54 PM Re: Portion of Appraisal Fee POC Newbie06
Compliance NABW Offline
Diamond Poster
Joined: Oct 2015
Posts: 1,668
Agreed. If you catch it in time to issue the final CD, which it seems you are, then you would list the $50 in the Paid by Others column if you only disclosed $300 as the Appraisal fee amount originally.

Last edited by Justin C.; 10/25/16 03:55 PM.
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#2106044 - 11/04/16 04:43 PM Re: Portion of Appraisal Fee POC Newbie06
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,403
California
To follow up on the situation where the LE showed $300 but the appraisal came in at $350. As a zero tolerance item, the bank must absorb the $50. PCBDebbie says that this could also be shown as a Lender Credit? How would that be shown? (I understand showing it all on one line in Section B) but not sure how the lender credit part would be shown so it balances?

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#2106072 - 11/04/16 05:47 PM Re: Portion of Appraisal Fee POC Newbie06
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,403
California
I think I answered my own question. Say our CD showed the $350 appraisal fee and collected the extra $50 at closing ($300 paid before closing), then our REVISED CD would reflect a $50 lender credit in Section J and we would issue a refund, right?

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