Posted on: 29th Oct, 2011 11:40 am
Please only respond with facts, not what you assume to be the law.
As a Mortgage Broker/ MLO after I send a borrower a GFE, TIL, Intent To Proceed Form and the rest of the disclosures and the borrower chooses to move forward with the loan, AT THAT POINT, can I collect the Appraisal Fee and the Contract Processor's Fee?
As a Mortgage Broker/ MLO after I send a borrower a GFE, TIL, Intent To Proceed Form and the rest of the disclosures and the borrower chooses to move forward with the loan, AT THAT POINT, can I collect the Appraisal Fee and the Contract Processor's Fee?
Hi Austin,
Well, the appraisal fee and the contract processor's fee are paid by the lender at the time of closing. So, you won't be able to collect those fees before the closing.
Well, the appraisal fee and the contract processor's fee are paid by the lender at the time of closing. So, you won't be able to collect those fees before the closing.