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Under-estimation on GFE by lender

Profile picture for hethserhserhs
If a customer has a current mtg on file with our bank and wishes to change her terms and increase her loan amount and our lender issues a GFE and gives the full amount of transfer tax (instead of the difference bw the old mtg and the new mtg), is it okay that we OVER-stated the amount on the GFE or is this a zero tolerance fee as in no offage at all?
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June 09 2010 - Shawnee
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Profile picture for funds2
The Transfer Tax is a zero tolerence fee which would mean the amount shown on GFE is max. amount that can be charged. If actual fee at closing is lower that would not present an issue.
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June 09 2010
Profile picture for Harry Newell
Wayne is correct. The a,mount using the full .0026 factor is to be used.
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June 09 2010
 
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DiscussionUnder-estimation on GFE by lender
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