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It is customary in my area for Seller’s to pay a portion of the Deed Prep fee. Are we required to disclose such Seller paid fees on the Loan Estimate?
My feeling is that we would NOT need to disclose Seller paid fees and I get this from 12 CFR 1026.37 Official Interpretation 37(g)(1) in that Transfer Taxes that are paid by the Seller are NOT disclosed on the Loan Estimate.
Can you provide are directives when it comes to the disclosure of Seller paid items on the Loan Estimate?
Thank you.
Take a look at the preamble, linked here: https://files.consumerfinance.gov/f/201311_cfpb_final-rule-preamble_integrated-mortgage-disclosures.pdf, beginning on page 874.
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