If the car dealer is acting as a closing agent and closing the loan at the dealership what compliance concerns would there be? We would be underwriting them and creating the documents. I know they would have to do CIP. Would their fees need to show up on the loan documents?
Regarding fees, follow the disclosure requirement in 1026.18. If you’re referring to the FC – if the dealer charges the fee to cash customers and loan customers alike it wouldn’t be included in the FC.