- Business Rules
Will the Origination Charges now be broken down for individual fees?Creditors determine the level of itemization of "Origination Charges" that is appropriate. The creditor may use a general label that uses terminology that clearly and conspicuously describes the service that is disclosed as an origination charge pursuant to §1026.37(f)(1). Items that are listed under the subheading ‘‘Origination Charges’’ may include, for example, application fee, origination fee, underwriting fee, processing fee, verification fee, and rate-lock fee.
Citation(s): §1026.37(f)(1); Commentary ¶37(f)(1)(i)-3; and, Commentary ¶37(f)(1)(i)-5
CFPB announcement regarding the delay of TRID
The full statement from CFPB Director Richard Cordray can be viewed here