Unintended Fee Disclosed

Posted By: George

Unintended Fee Disclosed - 07/19/17 03:07 PM

ALA sent out an LE to a customer that included an origination fee when it was NOT supposed to. They are asking for a change in circumstance/revised LE to show it removed, but I don't believe it is. What are our options in this case?
Posted By: rlcarey

Re: Unintended Fee Disclosed - 07/19/17 03:10 PM

Issue an informational LE to the customer and make sure you don't actually charge one.
Posted By: JC (Darth HMDA)

Re: Unintended Fee Disclosed - 07/19/17 03:23 PM

^^What Randy said.

I hate to send "courtesy" LE's but this situation might warrant one.

Find out who made the error and definitely coach them on it.
Posted By: Truffle Royale

Re: Unintended Fee Disclosed - 07/19/17 03:26 PM

Who is the 'they' asking for the change?
If it's the LO, I'd leave it as is.
If it's the borrower, a borrower request is considered a basis for reissue, imho.
Posted By: George

Re: Unintended Fee Disclosed - 07/19/17 03:30 PM

Thanks y'all!

Truffle, it is our LO asking. Darth, we do know and have already spoken to them about it.