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Bank Seller Fee on Closing Disclosure

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  • #33648
    Sandy
    Participant

    We have been told in the past by auditors when preparing a closing disclosure and there are fees being charged to our customer that is a Bank fee, such as a wire fee, it is to be listed is section A. If this fee is being paid by the seller does it still have to go in section A or section H (other) of the CD?

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  • #33747
    jholzknecht
    Keymaster

    If the bank imposes a fee, such as a wire fee, it is listed in Section A. When that fee is paid by the seller, then on the closing disclosure it is moved from the “borrower-paid” column to the “Seller-Paid” column.

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