A bank offers 30-year, $180,000 mortgages at 4.7 percent and charges a $3,700 refundable loan application fee. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR.

A bank offers 30-year, $180,000 mortgages at 4.7 percent and charges a $3,700 refundable loan applicotion fee. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR