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#2138736 - 07/19/17 03:07 PM Unintended Fee Disclosed
George Offline
Gold Star
Joined: Apr 2016
Posts: 364
ALA sent out an LE to a customer that included an origination fee when it was NOT supposed to. They are asking for a change in circumstance/revised LE to show it removed, but I don't believe it is. What are our options in this case?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2138738 - 07/19/17 03:10 PM Re: Unintended Fee Disclosed George
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,893
Galveston, TX
Issue an informational LE to the customer and make sure you don't actually charge one.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2138743 - 07/19/17 03:23 PM Re: Unintended Fee Disclosed George
Darth HMDA, CRCM, CAMS Offline
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Darth HMDA, CRCM, CAMS
Joined: Dec 2013
Posts: 1,387
CA
^^What Randy said.

I hate to send "courtesy" LE's but this situation might warrant one.

Find out who made the error and definitely coach them on it.
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The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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#2138745 - 07/19/17 03:26 PM Re: Unintended Fee Disclosed George
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,355
Who is the 'they' asking for the change?
If it's the LO, I'd leave it as is.
If it's the borrower, a borrower request is considered a basis for reissue, imho.

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#2138748 - 07/19/17 03:30 PM Re: Unintended Fee Disclosed George
George Offline
Gold Star
Joined: Apr 2016
Posts: 364
Thanks y'all!

Truffle, it is our LO asking. Darth, we do know and have already spoken to them about it.

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