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#2239992 - 07/22/20 07:53 PM Lender Pays fees
Dodge Offline
100 Club
Joined: Mar 2010
Posts: 237

We are paying all closing cost for a customer, and I haven't done a LE on a situation like this. I looked it up but I want make sure before we send it out. Based on Q&A #3 under Lenders Credit on the CFPB FAQs we can leave all the fees off the LE?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2239993 - 07/22/20 07:58 PM Re: Lender Pays fees Dodge
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 46,762
Bloomington, IN
That's correct. You only need to disclose the fees the borrower will have to pay such as escrow deposits, taxes, insurance, prepaid interest.
The opinions expressed are mine and they are not to be taken as legal advice.

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#2239995 - 07/22/20 08:07 PM Re: Lender Pays fees Dodge
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,629
Cape Cod
When you get to the closing disclosure, though, you will have to show ALL the costs, regardless of who has paid/will pay them, and show the dollar amounts for those the bank pays in the "Paid by Others" column.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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