Loan audited after closing (I owe money?)
I just received a letter almost 7 months after closing from the title company (national lending service). They are saying that during a recent audit they found that there was a clerical error and that there was a shortage of $488 in the funds necessary for recording and title fees.
Is this a somewhat common occurrence? It says pursuant to the clerical error section of the Compliance agreement that I signed in my closing package they are requesting reimbursement.
What's their's is their's and I will pay but it seems like they should eat it. They have employees or a team of employees that verify this stuff and this fee would have been financed.
I'm waiting on a phone call to hear the details.