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#2165072 - 02/16/18 09:14 PM Construction draw charge placement on LE
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Joined: Feb 2016
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If our bank charges a $150 per draw fee on a construction loan that is typically paid to the title company for doing the work to process the draw, but our bank requires the fee and in some cases (two of our banks) do the draw disbursement themselves; where on the LE and CD would this fee go? What tolerance bucket would the fee be in?

Would the fee done by the two banks that preform the work go in a different section than the ones paid to title?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2165075 - 02/16/18 09:18 PM Re: Construction draw charge placement on LE F
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Posts: 19
The $150 can vary based on title company chosen also.

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#2165086 - 02/16/18 10:30 PM Re: Construction draw charge placement on LE F
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
If you know to whom the fee is going to be paid, it would go in Section B. If you don't, then it would go in Section A. Either way it is a 0% tolerance item.
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