Skip to content
BOL Conferences
Thread Options
#876306 - 12/19/07 09:26 PM Attorney review fee
kira Offline
100 Club
Joined: Jul 2006
Posts: 219
Is the attorey review fee a finance charge or is it excluded?

Thanks

Return to Top
Lending Compliance
#876394 - 12/19/07 11:14 PM Re: Attorney review fee kira
homestar Offline
Diamond Poster
Joined: Feb 2001
Posts: 2,245
US of A
Well, is the attorney who is performing the review a bank employee? If so, it might be a finance charge. If not, it probably is not.

However, you need to understand how state law applies and, if the review is being performed by a bank employee, whether or not the fee may be legally charged.
_________________________
"If you want to tell people the truth, make them laugh, otherwise they'll kill you." ~ Oscar Wilde

Return to Top
#877104 - 12/21/07 01:54 PM Re: Attorney review fee homestar
kira Offline
100 Club
Joined: Jul 2006
Posts: 219
Excluding the state, if the review fee is done by a non-employee, from what you said it probaly is not a FC. Can you think, under this, when it would be?

Return to Top
#877125 - 12/21/07 02:21 PM Re: Attorney review fee kira
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,532
Bloomington, IN
What is the attorney reviewing? Review 226.4(c)(7) and its Commentary.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top

Moderator:  Andy_Z