Under the October 19, 2017 Mortgage Servicing Rules update, we must provide the reinstatement amount under 1026.41(d)(2) if the balance of a mortgage loan has been accelerated but we will accept a lesser amount to reinstate the loan. I'm curious as to how we determine the reinstatement amount if the loan has been referred to foreclosure counsel and some foreclosure fees and expenses have been incurred, but we have not yet received an invoice indicating the total foreclosure costs.

Should the reinstatement amount listed include only those fees and expenses we know about? If so, how do we collect the foreclosure fees and expenses once the consumer has paid us the reinstatement amount listed on the periodic statement?

Thank you.

You can either use an estimate (and label it as such) or ask what the legal fees are when you send it out and include "as of" language. The preamble to the final rule has some commentary on this.