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Section 32 Fees

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Question: 
Where can I find information about what fees are included in a section 32 and the amount of fees allowed?
Answer: 

Refer to Section 226.32(b)(1):For purposes of paragraph (a)(1)(ii) of this section, points and fees means:
(i) All items required to be disclosed under Section 226.4(a) and 226.4(b), except interest or the timeprice differential;
(ii) All compensation paid to mortgage brokers;
(iii) All items listed in Section 226.4(c)(7) (other than amounts held for future payment of taxes) unless the charge is reasonable, the creditor receives no direct or indirect compensation in connection with the charge, and the charge is not paid to an affiliate of the creditor; and
(iv) Premiums or other charges for credit life, accident, health, or lossofincome insurance, or debtcancellation coverage (whether or not the debtcancellation coverage is insurance under applicable law) that provides for cancellation of all or part of the consumer’s liability in the event of the loss of life, health, or income or in the case of accident, written in connection with the credit transaction.


First published on BankersOnline.com 11/11/02

First published on 11/11/2002

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