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#2243456 - 10/01/20 04:18 PM Credit after closing on refinance
nulurch12 Offline
Member
Joined: Aug 2015
Posts: 86
NYC
Looking for some guidance on this issue, first time coming across the need. On a recent refinance transaction after the customer had come in to sign for closing the customer noticed that the appraisal fee was showing on the CD but apparently was promised it would be waived. In order to deal with this customer service issue now which is day 1 of the rescission period, can a credit be given on a post closing CD?? I am thinking that no changes that are in the form of an increase or a lender credit can be added during the rescission period and would need to have a resigning with correct fees showing. TILA does not seem to directly address this situation so I'm looking to see if anyone has had to deal with this before.

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Lending Compliance
#2243462 - 10/01/20 05:22 PM Re: Credit after closing on refinance nulurch12
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
You would send a post-closing CD and cut them a check and show the appraisal as paid by lender. It has no real impact on the material disclosures for rescission.
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#2243463 - 10/01/20 05:25 PM Re: Credit after closing on refinance nulurch12
nulurch12 Offline
Member
Joined: Aug 2015
Posts: 86
NYC
Thanks rlcarey!!

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