Skip to content
BOL Conferences
Forums · Active Threads · Forum Rules · Mark All Read · Log In
BankersOnline.com Forums Banker Forums RESPA FINANCE ALL CLOSING COSTS AND RESPA
Thread Options
#1699897 - 05/15/12 09:09 PM FINANCE ALL CLOSING COSTS AND RESPA
newyork Offline
Gold Star
Joined: Aug 2008
Posts: 450
If a RESPA loan is going to have all closing costs involved financed into the loan, do we still show the fees to be paid by the borrower on the GFE?

Return to Top
RESPA
#1699906 - 05/15/12 09:28 PM Re: FINANCE ALL CLOSING COSTS AND RESPA newyork
RulesFollower Offline
100 Club
Joined: Oct 2011
Posts: 185
Yes, if this is particular to this loan and not your standard practice.

Return to Top
#1700036 - 05/16/12 01:35 PM Re: FINANCE ALL CLOSING COSTS AND RESPA newyork
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,529
Bloomington, IN
Quote:
do we still show the fees to be paid by the borrower on the GFE?


Why wouldn't you? Isn't the borrower still paying the charges by borrowing the additional money to cover them?
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#1700054 - 05/16/12 01:56 PM Re: FINANCE ALL CLOSING COSTS AND RESPA newyork
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
We almost always finance all costs. They are itemized to the borrower just like you would anything else.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top

Moderator:  QCL