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Are the lender credits we report on the LAR all credits we are giving the customer? If we disclose a total of $500 in customary fees but the lender pays all those fees for the customer at closing, do we report $500 under lender credits on the LAR? Or do we only report those credits that are over & above the customer charges (ex. tolerance cure)
As explained in the program manual and as shown on the program PowerPoint slides, the lender credits disclosed on the LAR are the Lender Credits from Section J of the Closing Disclosures. That amount includes the general credits, which includes the tolerance cure, but not the specific lender credits.
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