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#329042 - 03/03/05 06:20 PM Refund vs. Restitution
Lavender Offline
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Lavender
Joined: Jun 2003
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On a HELOC, can we refund fees in lieu of sending out a new ROR?

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Lending Compliance
#329043 - 03/03/05 06:49 PM Re: Refund vs. Restitution
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
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Bloomington, IN
What happen that makes you think you need to refund and that you have a ROR problem?
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The opinions expressed are mine and they are not to be taken as legal advice.

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#329044 - 03/03/05 06:53 PM Re: Refund vs. Restitution
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The closing costs were lower than disclosed/anticipated.
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#329045 - 03/03/05 07:01 PM Re: Refund vs. Restitution
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,533
Bloomington, IN
Just send the the borrower a nice little thank you letter and advise them that the costs came in lower than anticipated and you are returning the overpayment. Nothing else needs to be done.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#329046 - 03/03/05 07:04 PM Thanks Dan!
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*
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