Topic Options
#2113855 - 01/11/17 12:21 PM "Title" not before a title fee
ComplianceMN Offline
Member

Registered: 05/05/15
Posts: 57
Loc: MN
If our third party processor forgot to put "Title" in front of a title fee on the LE and we missed it before sending it out (customer can shop for this service) can we still charge for this fee? Or does this become a fee that we will need to eat and not charge the customer for? Thanks.

Top
TRID - TILA/RESPA Integrated Disclosures Rule
               Learning Connect Webinar          Learning Connect Webinar          
#2113883 - 01/11/17 01:24 PM Re: "Title" not before a title fee [Re: ComplianceMN]
Truffle Royale Offline


10K Club

Registered: 07/09/03
Posts: 15865
What is the fee for?
And if a third party made an error that resulted in eating a fee, I'd be making them pay for it, not me.

Top
#2113910 - 01/11/17 03:18 PM Re: "Title" not before a title fee [Re: ComplianceMN]
raitchjay Online
Power Poster

Registered: 10/15/09
Posts: 6222
Loc: OK
Not saying it's not important to get such errors corrected, but i wouldn't look at the omission of "title" as meaning the fee must be eaten by the bank. JMO.
_________________________
"I have yet to see a piece of writing, political or non-political, that doesn't have a slant..."

E.B. White


Top
#2113950 - 01/11/17 07:52 PM Re: "Title" not before a title fee [Re: ComplianceMN]
Darth HMDA Offline
Platinum Poster

Registered: 12/13/13
Posts: 836
Loc: CA
I'd agree with Raitch - I wouldn't necessarily consider that eating the fee - more of a clerical error that should be fixed on the next disclosure.

You must be really confident in a third party to allow them to produce your disclosures!
_________________________
The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

Top
#2113976 - 01/12/17 09:28 AM Re: "Title" not before a title fee [Re: ComplianceMN]
Justin C. Offline
100 Club

Registered: 10/22/15
Posts: 221
Yes, you have a naming convention error, but this is not a tolerance cure issue.

Top