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over disclosed on the GFE

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  • #2652
    khavens
    Participant

    We over disclosed an overnight fee on the GFE of $35.00 in block four. I know the RESPA roundup said that if you over disclose usually title insurance that you cannot list this on the comparison chart. Would you disclosure this overnight fee if block four or leave it off the comparison chart.

    #3176
    JGo9
    Participant

    If it is a fee that is typically associated the particular type of loan in question then you MUST disclose it on the GFE; so I don’t think leaving it off is an option.

    However, I don’t think Block 4 is the proper location to disclose this fee. You would need to disclose it on Page 2, Block 3 of the GFE (Required services that we select). The only alternative that I see would possibly be block 6 if you let them shot for this service, but it has been my experience that most Banks do not allow customers to shop for this item.

    You don’t mention what the overnight fee was used for. What was being overnighted. So I’m going with the assumption that this is for overnighting the final package of loan documents.

    #3166
    khavens
    Participant

    The overnight fee was being charged for the payoff to be delivered?

    #3161
    JGo9
    Participant

    It should be disclosed using block 3 on page 2 then.

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