We were having an home equity special and was advertising it as "No Fees and No Closing Costs." However the $500 origination fee was listed on the LE. This is normally our only loan charge for home equity loans. When the CD was issued, the $500 origination fee was listed in Section A and a $500 general lender credit was listed in section J. So as a result, the customer paid $0 costs.

Would the amount financed on the CD be the loan amount $140,000 minus the $500 (origination fee)= $140,500 or would the amount financed by the full loan amount, $141,000 since the origination fee and lender credit offset each other and the customer did not pay any costs?

Thank you!

General lender credits are not negative finance charges.

Great Thanks!