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#1076730 - 11/05/08 04:09 PM Is this a Finance Charge?
lstark Offline
Gold Star
Joined: Nov 2005
Posts: 440
Is Environmental Screening considered a pre paid finance charge for RE loans? The fee is paid to an environmental company and imposed by the bank? I did not locate this fee under exclusions in the regulation. Thanks.

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Lending Compliance
#1076740 - 11/05/08 04:15 PM Re: Is this a Finance Charge? lstark
Jon D Offline
Member
Jon D
Joined: Jun 2001
Posts: 53
The Midwest
It would not be considered a prepaid finance charge provided the service is performed prior to closing. See section 226.4(c)(7)(iv)in Reg Z...

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