05/01/2022
If we charge a $25 return check fee for dishonored loan payments, is this charged to the principal balance or like a late fee that doesn't effect the balance? This charge is disclosed to the borrower.
02/27/2022
My company is a non-depository mortgage company. We would like to partner with banks/credit unions that don't offer mortgages. Once upon a time I had seen an "app taker program" wherein a financial institution could pay another financial institution for work done on an application. For example - the bank that doesn't offer mortgages would help the client complete an online application then provide all income/asset documents. For this my company would pay the bank 0.5% fee, shown on the CD, for their services provided. Can you please direct me to the section of the regs that would discuss this and/or provide information you might be familiar with related to this topic?
04/11/2021
What are or where can I find the allowable fees for a VA mortgage?
03/07/2021
intent to proceed prohibits charging fees other than for credit report before the Loan Estimate is provided and the applicant's intent to proceed has been confirmed and documented. If due to a technical issue which we discovered post closing the Loan Estimate was never sent to the borrower, is the lender obligated to refund all closing fees based on the Intent to proceed rule?
05/10/2020
Can a lender charge a customer for the cost of a soft credit pull prior to an application for example for a prequal or preapproval? I have heard that
there are no federal prohibitions on doing this, but I would like to have more than one perspective please.
04/19/2020
We are a lender in Massachusetts and disclose on our HELOC agreement the discharge fee that will be charged by the registry of deeds to discharge the loan when it is paid in full. Massachusetts recently went up in their fee by $30. The fee disclosed at the time of loan closing was accurate at that time. Can we charge the increased fee?
03/22/2020
If you have a Filing Fee (lien on title) and a UCC1 recording fee to the State, would both of these amounts be reflected in the Fed Box or just the Filing fee on the title?
06/23/2019
Can you charge a late fee on a consumer single pay note?
04/14/2019
We see quite often where lenders agree to pay for or credit back items such as the lenders title policy. This is often done when a lender wants to capture the business of a builder so they offer this as a "perk" to the referrals coming from that builder. I was wondering how other lenders manage to do it without violating any regulations. We wouldn't plan to do this across the board.
02/24/2019
We are looking to increase our late fees on our consumer loans (installment and line of credit) not affecting any HELOC or mortgages at the first of the year. I know based on our current disclosures we cannot increase late fees on existing loans but can on the new loans made going forward. I am looking to see if we need to provide our membership with a notice of increase in fees? If so, does it need to be in a newsletter or can it be a hard coded message on the statements? I can't seem to locate this within Reg Z rules.
