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#2252999 - 04/27/21 12:31 PM Closing Disclosures (CD)
HMDA GIRL Offline
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Joined: Aug 2013
Posts: 128
Dunkirk NY
We are getting many requests to move closings after we have completed the closing disclosure and documents. We came up with the following in an attempt to deter this practice and wanted to add the language to the commitment:

If, for any reason, a second set of closing papers must be prepared, a processing fee of $100.00 will be assessed.

My question – I assume we would need to redisclose, so would this charge be considered an APR fee and where should I disclose it?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2253005 - 04/27/21 01:13 PM Re: Closing Disclosures (CD) HMDA GIRL
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 77,591
Galveston, TX
If they are paying you, then Section A. If they are paying a third party - then Section B.

I would say this is a finance charge as it appears to be a penalty charge and not an actual document preparation charge.
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#2253012 - 04/27/21 01:39 PM Re: Closing Disclosures (CD) HMDA GIRL
HMDA GIRL Offline
100 Club
Joined: Aug 2013
Posts: 128
Dunkirk NY
Okay, Thank you!!

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#2253021 - 04/27/21 02:36 PM Re: Closing Disclosures (CD) HMDA GIRL
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,408
Cape Cod
Be careful here! You cannot charge a fee for the preparation or delivery of the Closing Disclosure as part of those new closing papers. See Reg Z §1026.19(f)(5).
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#2253026 - 04/27/21 02:43 PM Re: Closing Disclosures (CD) HMDA GIRL
Jim Schue Offline
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Joined: Jan 2017
Posts: 21
In addition to the Reg Z concerns, this seems like the kind of fee assessment that would be inconsistently enforced.. Causing an entirely different set of problems.

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