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#3136 - 07/23/01 01:28 PM Cancellation Fees
Loan Ops Offline
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Loan Ops
Joined: Jul 2001
Posts: 62
Sandusky, OH USA
We are having a difficult time getting everyone to remember to collect cancellation fees when accepting pay-offs. Does anyone collect these fees upfront when the loan is made, and how are they being disclosed?

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#3137 - 07/23/01 01:32 PM Re: Cancellation Fees
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,180
Toano, VA
If these fees are for cancelling a lien filing, then they're handled the same way as filing fees--disclose them and they're excluded from the FC.
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