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Old 09-05-2008, 07:05 PM
Location: Somewhere out there...
3,653 posts, read 7,271,332 times
Reputation: 3677


Better yet, report him.
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Old 09-05-2008, 10:56 PM
Location: Cary, NC
1,036 posts, read 3,629,791 times
Reputation: 503
Originally Posted by asitshouldbe View Post
No, do not pay him, they do NOT forget to add there fee's. This is their income and they know what they are doing. He just trying get more money from an unsuspecting person. He is a greedy.

It does happen. And sometimes it is not me that forgets, I submit my fee sheet and the processor, closer or attorney forgets to include it. The loan goes through many hands which is why mistakes and delays can occur.

However, when it happens... its the loan officers responsibility to check the HUD prior to closing. If the loan officer missed it, it's their loss. You learn to review things quickly this way
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Old 09-10-2008, 05:55 PM
5,426 posts, read 4,666,865 times
Reputation: 1115
Originally Posted by fsweetland View Post
Can anyone give me some insight. My loan broker wants me to cut him a personal check from cash that I am getting back at close for " fee's he forgot to include". Apparently this has happened in the past with other clients. I taught it was all good until I started thinking about it. Please if anyone has any idea if this sounds right??
Have you already closed? If not, simply add the fees to the settlement statement (HUD-1).

If you have already closed and if there was a failure to charge a legitimate fee, then the loan officer should not have a problem handling it above board through his company. A revision of the HUD-1 might be necessary.

HUD enacted a federal statue call RESPA (Real Estate Settlement Procedures Act) in 1974. Through RESPA, a disclosure document called a HUD-1 became the customary means by which to reflect all fees and disbursements from a real estate closing; if any fee is not listed on the HUD-1, there could be consequences from the Gov't.
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