Overcollection of fee by cents

Posted By: Vive Accommodare

Overcollection of fee by cents - 10/12/17 05:00 PM

If we have a charge for the upfront mortgage insurance premium, but we accidentally over collected by a penny do we have to reimburse for the penny?
Posted By: John Burnett

Re: Overcollection of fee by cents - 10/12/17 05:18 PM

There isn't any "de minimis" exception to the requirement that you pay back any amount that you "over collected."
Posted By: Vive Accommodare

Re: Overcollection of fee by cents - 10/12/17 06:03 PM

That was my fear!