I have seen a similar question to the disclosing of draw fees, but I didn't see a specific answer, so I will try my hand.
Title Company charges $60 per draw - average draws per construction loan are five. $300 is disclosed on the LE. Are others disclosing on the CD as follows?
a. In Section B or C and Paid Outside Closing (since title company doesn't collect until money is drawn), and
b. When the construction phase is over and only four draws were taken, for example, the uncollected $60 reduces the outstanding principal balance it is rolled into the permanent repayment phase.
I just need verification that this is correct scenario.
Thank you!