Under what conditions is the Due Diligence Fee refundable to the borrower?
A. The Due Diligence Fee is used to cover the cost of the various types of investigations that are conducted to determine if we are willing to make the requested loan ( value determinations, property inspections, local market evaluations, etc…) and is therefore never refundable. If we close the loan, the amount of the Due Diligence Fee (less any “Rush Fees”) will be credited back to the borrower on the Closing Statement.
