c. Other Charges
Certain other additional charges are specifically allowed by Minn. Stat.
§ 47.59, subd. 6, and therefore need not be considered in determining the
statutory finance charge. These charges include:
ï‚· official fees and taxes;
ï‚· certain insurance charges, if disclosed (See subsection d, below);
 a charge at the rate permitted by Minn. Stat. § 604.113 for return of
checks or automated payment withdrawal requests;
ï‚· with respect to loans secured by real estate, if they are bona fide,
reasonable in amount, and not for the purpose of circumvention or
evasion of the statute:
(i) fees or premiums for title examination, abstract of title, title
insurance, surveys, or similar purposes;
(ii) fees for preparation of a deed, mortgage, settlement statement, or
other document, if not paid to the bank;
(iii) escrows for future payments of taxes, including assessments for
improvements, insurance, water, sewer, and land rents;
(iv) fees for notarizing deeds and other documents;
(v) appraisal and credit report fees;
(vi) fees for determining whether any portion of the property is located
in a flood zone and fees for ongoing monitoring for changes in flood
zone status; and
ï‚· with respect to closed-end loans in the original principal amount of
$6,480 or less, a one-time “loan administrative fee†of up to $25. The
loan administrative fee may be paid in cash at the time of loan closing,
or it may be added to the original principal amount of the loan and
paid back over time, with interest. Even if it is added to the original
principal amount of the loan, the loan administrative fee need not be
counted in determining whether the $6,480 cap has been exceeded.
_________________________
Sometimes you have to burn a few bridges to keep the crazies from following you.