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#1525651 - 03/23/11 01:46 PM origination charge on GFE
QueenBB Offline
100 Club
Joined: Jan 2006
Posts: 190
TX
If an attorney prepares a warranty deed and charges a fee, it is typically listed in the 1000 series of the HUD. Should this fee be included in the Origination Charge on the GFE and HUD? It seems to be described as "doc prep" and usually paid by the seller. Does this make a difference?

What if an attorney prepares a document to change title of the property to an individual from his business name (ie he built the home as a contractor to sell, then decided to live in it himself)? Should that fee be included in Origination Charge?

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Lending Compliance
#1525658 - 03/23/11 01:52 PM Re: origination charge on GFE QueenBB
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,765
Bloomington, IN
If the services are being performed on behalf of the bank the charges are included in Block 1 and Line 801.

If the charges are being performed on behalf of the closing agent (title company) they are included in Block 4 and Line 1101.
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The opinions expressed are mine and they are not to be taken as legal advice.

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