This is not legal advice for your situation*

New Compliance Tool: Finance Charges Matrix

For DocMagic customers' ease of reference, DocMagic's Compliance Department has prepared a matrix that reflects a list of various fees and charges (with DocMagic's charge codes) that are found in the dropdown menu of fees/charges for both DocMagic Online and DocMagic for Windows, DocMagic's defaults designating whether or not such fees/charges are finance charges, and the applicable citation to Section 226.4 of Regulation Z or the Official Commentary to Reg. Z upon which the defaults are based. Note that where a particular fee or charge, such as the flood certification fee, can be either a finance charge or not a finance charge, note that such fee/charge is listed twice with a different charge code assigned.

Here is the matrix: Finance Charges Matrix

Click below for our three-part series of articles on finance charges:

Back to Top



*This article is distributed to provide general information about the subject matter covered and should not be utilized as a substitute for professional advice in specific situations. If you require such advice, please consult with your own professional advisers.


Syndicate content RSS