The business has implied that it will also start tracking loans that are already on our books, but at a discount. Is this a violation of RESPA?
If they are doing this as enticement to get you to sign the contract you have a Sec 8 issues. They are giving a thing of value in anticipation of receiving your business for their settlement service.
Before you even think about charging existing customers the fee you better read your contracts very very closely and then consult your attorneys and then consult them again to make sure they consulted state laws. Very seldom does a closed-end contract allow a unilateral change or additional charges after the fact that were not originally contracted for. You would not want me walking into one your branches with such a bill because I would have my attorney and several deposit slips for you to complete and I would be there until you filled out one that I and my attorney thought had the right numerals and trailing zeros filled in.
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