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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule Overcollection of fee by cents
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#2149569 - 10/12/17 05:00 PM Overcollection of fee by cents
Vive Accommodare Offline
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Vive Accommodare
Joined: Apr 2013
Posts: 581
Compliance
If we have a charge for the upfront mortgage insurance premium, but we accidentally over collected by a penny do we have to reimburse for the penny?
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TRID - TILA/RESPA Integrated Disclosures Rule
#2149573 - 10/12/17 05:18 PM Re: Overcollection of fee by cents Vive Accommodare
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
There isn't any "de minimis" exception to the requirement that you pay back any amount that you "over collected."
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#2149594 - 10/12/17 06:03 PM Re: Overcollection of fee by cents Vive Accommodare
Vive Accommodare Offline
Platinum Poster
Vive Accommodare
Joined: Apr 2013
Posts: 581
Compliance
That was my fear!
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"Tact is telling someone to go to [censored] in such a way, they look forward to the trip" Winston Churchill

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