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#2118637 - 02/16/17 08:28 PM Tolerance
theloanbug Offline
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Registered: 09/10/05
Posts: 454
We do not let our customers shop. Since we do not allow shopping the tolerances for filing mortgage, deeds,abstract fees,and attorneys fees are 10%? Thanks

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#2118640 - 02/16/17 08:38 PM Re: Tolerance [Re: theloanbug]
Truffle Royale Offline


10K Club

Registered: 07/09/03
Posts: 15856
filing fees, yes 10% tolerance.
abstract fees yes to 10% if that is what you use to get proof of clear title.
What are the attorney's fees for?

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#2118643 - 02/16/17 08:48 PM Re: Tolerance [Re: Truffle Royale]
theloanbug Offline
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Registered: 09/10/05
Posts: 454
Attorney is used also for clear title. Thanks. I do not know why I was having doubt about abstract being zero tolerance.

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#2118644 - 02/16/17 08:49 PM Re: Tolerance [Re: theloanbug]
theloanbug Offline
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Registered: 09/10/05
Posts: 454
Appraisal zero tolerance

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#2118646 - 02/16/17 09:01 PM Re: Tolerance [Re: theloanbug]
Truffle Royale Offline


10K Club

Registered: 07/09/03
Posts: 15856
appraisal is zero.
Your bank is choosing the abstractor and the attorney? Sorry, most banks we work with allow shopping for those items so it's 10% or not a tolerance item at all. Gives the bank some wiggle room.

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#2118647 - 02/16/17 09:04 PM Re: Tolerance [Re: Truffle Royale]
theloanbug Offline
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Registered: 09/10/05
Posts: 454
Yes we choose. So is it 10%?

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#2118658 - 02/17/17 08:12 AM Re: Tolerance [Re: theloanbug]
PCBDebbie, CRCM Offline
100 Club

Registered: 08/28/15
Posts: 105
If the bank doesn't allow the borrower to shop for services, then it would be a 0 tolerance item.

Charges subject to zero tolerance: Fees paid to an unaffiliated third party if the creditor did not permit the consumer to shop for a third party service provider for a settlement service (ยง 1026.19(e)(3)(ii)(C); Comment 19(e)(3)(i)-1.iv);

Filing fees would still be 10%

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#2118854 - 02/18/17 04:20 PM Re: Tolerance [Re: theloanbug]
theloanbug Offline
Gold Star

Registered: 09/10/05
Posts: 454
OK. That is what I was thinking also.

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