Comparison of Early and Closing Fees

ComplianceOne® mortgage displays the Comparison of Early and Closing Fees accordion on the Calculation view when you are in the Closing Phase of a consumer mortgage transaction.

The Comparison of Early and Closing Fees table consists of two main sections comparing the amounts charged at loan settlement to the amounts provided earlier in the transaction on the Loan Estimate document.

For purposes of the comparison, fees are divided into the following categories:

Charges that Cannot Increase – Variance 0%: The amount paid by the consumer at loan settlement does not exceed the amount disclosed on the Loan Estimate. This category applies to the following types of fees:

• Fees paid to creditor
• Fees paid to mortgage broker
• Fees paid to an affiliate of the creditor or mortgage broker
• Fees paid to an unaffiliated provider if the creditor did not permit the consumer to select a provider other than the providers on the list.
• Transfer taxes

Charges That in Total Cannot Increase More than 10% - Variance 10%: The aggregate of the third party services and recording fees paid by the consumer at loan settlement does not exceed the aggregate amount by more than 10% of the amount disclosed on the Loan Estimate. This category applies to the following types of fees:

• Charge cannot be paid to an affiliate
• Creditor permits the consumer to shop