Latest Lending - Fees Topics

How to Cure A Loan Post Consummation

10/21/2018

We recently found a fee that was charged to a borrower and needs to be cured. The closing has already happened and we charged too much. Could you tell me the proper steps on how to cure a loan post consummation and where do we place the cured amount on the cd?

Charging Fees for Credit Reports

09/23/2018

We are looking at charging fees for credit reports. We have never done this. How do we do this correctly? We are looking for any recommendations or guidance you can offer.

"Life of Loan" Fee for Real Estate Tax Check

09/23/2018

Our state pays real estate taxes semi-annually. Can we charge a "life of loan" fee on consumer real estate loans for performing a real estate tax check? If we can charge such a fee, must it be incorporated into the loan origination fee (which we currently do not charge) or can it be a separate line item? If a separate line item, where does it get placed on the LE/CD?

Loan Officer Compensation Question

06/10/2018

We have an outside team and would like them to refer their customers to our inside team since the outside team has too much to handle. Can we still offer some compensation to the outside team since they are referring their customers to are inside team?

HOEPA Consuling Fee-Added as Free Charge?

10/29/2017

When the bank is refinancing a loan and the loan is ​subject to ​H​OEPA, the customer has to go to consuling. After the LE is given, the customer comes back and says he cannot afford the $100.00 consuling fee. Can that fee be added as a fee charge or should it be added to the amount requested? If added to the amount requested, does this trigger a right of re​scission?

Convenience Fee for Loan Payments Over Phone w/CC

10/22/2017

Can we charge a convenience fee for loan payments made over the phone with a credit/debit card?

Fee for Tri-Merged Credit Report and Application

07/23/2017

We receive applications for consumer credit (unsecured, auto, etc.) that we decline. As part of that process we obtain with the application a tri-merged credit report at a cost of $20 to the bank. When we decline these applications we don't receive reimbursement of the $20 fee. Can we charge this $20 at application, before obtaining a CBR and before giving a decision on the loan?

Joint Credit Report Unmerged Invoice

03/12/2017

In the event when a joint credit report is pulled for a joint application, but then the loan is restructured using only ​one​ of the borrowers and the credit report is unmerged to obtain only the individual borrowers credit data, can the lender collect the charge for both invoices from the borrower (the invoice for the original report and the invoice for the unmerge service)?

Collecting an Appraisal Fee for a HELOC

12/27/2015

When can you collect an appraisal fee for a HELOC?

Packaging Fee on SBA Loans

07/26/2015

If you have a packaging fee that is charged to the customer on SBA loans would that be a fee that falls under FASB? Basically the fee is an origination fee but the SBA calls it a packaging fee.