- Business Rules
Currently our document preparation fee is reflected under the 801 charges. Which section would our document preparation fee now appear?The document preparation fee would still be considered an origination charge and be located on the Loan Estimate under the "Closing Cost Details – Origination charges" section. Under the subheading "Origination Charges," an itemization of each amount and a subtotal of all such amounts that the consumer will pay to each creditor and loan originator for originating and extending the credit should be entered.
Commentary to this section provides that "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."
CFPB announcement regarding the delay of TRID
The full statement from CFPB Director Richard Cordray can be viewed here