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#2118637 - 02/17/17 01:28 AM Tolerance
theloanbug Offline
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Joined: Sep 2005
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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 - 02/17/17 01:38 AM Re: Tolerance theloanbug
Truffle Royale Offline

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Posts: 17,395
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 - 02/17/17 01:48 AM Re: Tolerance Truffle Royale
theloanbug Offline
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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 - 02/17/17 01:49 AM Re: Tolerance theloanbug
theloanbug Offline
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Joined: Sep 2005
Posts: 746
Appraisal zero tolerance

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#2118646 - 02/17/17 02:01 AM Re: Tolerance theloanbug
Truffle Royale Offline

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Joined: Jul 2003
Posts: 17,395
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 - 02/17/17 02:04 AM Re: Tolerance Truffle Royale
theloanbug Offline
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Posts: 746
Yes we choose. So is it 10%?

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#2118658 - 02/17/17 01:12 PM Re: Tolerance theloanbug
PCBDebbie, CRCM Offline
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Joined: Aug 2015
Posts: 156
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 (§ 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 09:20 PM Re: Tolerance theloanbug
theloanbug Offline
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Joined: Sep 2005
Posts: 746
OK. That is what I was thinking also.

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