I know that daily interest charges are charges that can change and they are listed in Block 9 of the GFE.
For the sake of this question, lets assume that we disclose $100.00 in daily interest charges in Block 9 on our GFE. Then lets assume when we get to closing that we do not have any daily interest charges for the loan in question.
My question is, should we disclose $100.00 in the comparison chart on page 3 in the GFE section and then $0.00 in the HUD-1 section?
Or since this is something that was not charged, should we disclose $0.00 in the comparison chart on page 3 in the GFE section and the HUD-1 section?
Appendix A as well as a RESPA Roundup from July 2010 address services that were disclosed on the GFE but not charged/purchased, but other non-service charges such as daily interest aren’t really addressed, so in my opinion it is a bit of grey area. One could side with consistency and not disclose any amount on the comparison chart if it isn’t charged. On the other hand, if you look at the intent behind services that are not purchased not being disclosed on the comparison chart, it is to avoid padding the tolerance (padding would would give creditors more room for error/overcharging/underdisclosing). This isn’t a concern for the “Charges that Can Change” so, I believe the charge in block 10 of the GFE may be carried over to the HUD comparison chart even if that charge is not assessed.