There has been a little confusion in our loan processing area on how to process a loan request for an employee. The bank waives the origination fee and the transaction fee for employees of the bank. Given that the processor knows that these fees are waived at application, should they even be disclosed on the GFE? My first thought was no but as with everything RESPA related I second guess myself.
Also, a recent employee loan request had title work waived as well; however, the processor wasn’t aware of this until right before the loan was to be closed. In this case, title work fees were disclosed on the GFE but should be $0 on the HUD, correct?
Will these RESPA questions ever end?!!