Common use of Reasonable Closing Expenses Clause in Contracts

Reasonable Closing Expenses. Pro- vided the Participating Lender charges similar fees to its non-STLP borrowers, the Participating Lender may collect reasonable closing expenses from the borrower, provided that full disclosure of such fees is made to the borrower prior to the loan closing date. These expenses include necessary out-of- pocket expenses to third parties such as filing and recordation fees, as well as loan closing document preparation fees.