Posted By: Valley Girl
Bank eats escrow waiver fee - disclosed on GFE - 11/30/11 04:26 PM
Customer originally applied for loan with escrow. Now customer has changed their mind and wants to waive escrow. There is an escrow waiver fee. Instead of issuing a revised GFE to show the escrow waiver fee; the lender just wants to "eat" the fee.
Is that okay? I originally thought that all fees needed to be disclosed on the GFE regardless of who paid them but then I read one of the FAQs which said that the loan originator must list all required third party services on the GFE and HUD regardless of who paid for it.
Thanks!
Is that okay? I originally thought that all fees needed to be disclosed on the GFE regardless of who paid them but then I read one of the FAQs which said that the loan originator must list all required third party services on the GFE and HUD regardless of who paid for it.
Thanks!