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#2239655 - 07/16/20 12:35 AM Third Party Fees for Completing Services
Vive Accommodare Offline
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Vive Accommodare
Joined: Apr 2013
Posts: 581
Compliance
I know when a UCC Fee is charged it's considered a Gov/Recording fee, but when a third party is charging the Lender for having to prepare a UCC re-subordination, would that fee would in Section H since it isn't a service we require, but is a fee the third party charges for having to re-subordinate?
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TRID - TILA/RESPA Integrated Disclosures Rule
#2239658 - 07/16/20 11:06 AM Re: Third Party Fees for Completing Services Vive Accommodare
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
If you are requiring the re-subordination of the UCC as a condition of making the loan (I am not sure what else would require it), it is a required service by the lender and would go in Section B, unless the customer could shop.
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#2239669 - 07/16/20 02:13 PM Re: Third Party Fees for Completing Services Vive Accommodare
Vive Accommodare Offline
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Vive Accommodare
Joined: Apr 2013
Posts: 581
Compliance
The customer can't shop for it, this fee is charged by the company preparing the documents to do the re-subordination.
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#2239671 - 07/16/20 02:24 PM Re: Third Party Fees for Completing Services Vive Accommodare
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
OK - then Section B is your only option.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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