Fee on HUD/Help!

Posted By: nikki_compliance

Fee on HUD/Help! - 09/03/14 03:33 PM

We have a loan where we issued a GFE after all title work come through there was an issue because customer starting work on property before title company was involved. We now have a lien Propection fee for lien coverage broken priority, does this fee get included in the 10% tolerance?
Posted By: bgehres

Re: Fee on HUD/Help! - 09/03/14 08:43 PM

If your title fees are subject to the 10% tolerance, yes. If you're within 3 days of finding out about it, I think a changed circumstance would apply (new information particular to the borrower that was not relied on) and you could re-issue the GFE with the correct title fees.