See comment 2(a)(6)-2. Conversion. However, to conduct the good faith analysis required under 1026.19(e)(3)(i) and (ii), the creditor should use unrounded numbers to compare the actual charge paid by or imposed on the consumer for a settlement service with the estimated cost of the service. 06/30/2019. See also 1026.19(e)(3)(iv)(D) and comment 19(e)(3)(iv)(D)-1 for a discussion of lender credits in the context of interest rate dependent charges. 203K Consultant Fee. A creditor may ask for the sale price and address of the property, but the creditor may not require the consumer to provide a purchase and sale agreement to support the information the consumer provides orally before the creditor provides the disclosures required by 1026.19(e)(1)(i). Inclusion in other disclosures. However, if the creditor failed to provide revised disclosures, then the actual appraisal fee of $400 must be compared to the originally disclosed estimated appraisal fee of $200. The greater the percentage of total loan applications received by the broker that is submitted to a creditor in any given period of time, the less likely it is that the broker would be considered an intermediary agent or broker of the creditor during the next period. The imminent sale of the consumer's home at foreclosure, where the foreclosure sale will proceed unless loan proceeds are made available to the consumer during the waiting period, is one example of a bona fide personal financial emergency. Closed-end variable-rate transactions that are not secured by the principal dwelling, or are secured by the principal dwelling but have a term of one year or less, are subject to the disclosure requirements of 1026.18(f)(1) rather than those of 1026.19(b). Regardless of whether a creditor may use particular disclosures for purposes of determining good faith under 1026.19(e)(3)(i) and (ii), except as otherwise provided in 1026.19(e), any disclosures must be based on the best information reasonably available to the creditor at the time they are provided to the consumer. In transactions in which the latest payment shown in the historical example is not for the latest year of index values shown (such as in a five-year loan), a creditor may provide additional examples based on the initial and maximum payments disclosed under 1026.19(b)(2)(viii)(B). If the consumer enters into a rate lock agreement with the creditor after the disclosures required under 1026.19(e)(1)(i) were provided, then 1026.19(e)(3)(iv)(D) requires the creditor to provide, no later than three business days after the date that the consumer and the creditor enter into a rate lock agreement, a revised version of the disclosures required under 1026.19(e)(1)(i) reflecting the revised interest rate, the points disclosed under 1026.37(f)(1), lender credits, and any other interest rate dependent charges and terms. The recording fee paid by the consumer is $70. A third party submits a consumer's written application to a second creditor following a prior creditor's denial of an application made by the same consumer (or following the consumer's withdrawal), and, if a fee already has been assessed, the new creditor or third party does not collect or impose any additional fee until the consumer receives an early mortgage loan disclosure from the new creditor. Section 1026.19(e)(4)(ii) prohibits a creditor from providing a revised version of the disclosures required under 1026.19(e)(1)(i) on or after the date on which the creditor provides the disclosures required under 1026.19(f)(1)(i). The fee also must be bona fide and reasonable in amount.
rate lock extension fee on closing disclosure