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#1699897 - 05/15/12 09:09 PM FINANCE ALL CLOSING COSTS AND RESPA
newyork Offline
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Joined: Aug 2008
Posts: 415
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?

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

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#1700036 - 05/16/12 01:35 PM Re: FINANCE ALL CLOSING COSTS AND RESPA newyork
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,844
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?
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The opinions expressed are mine and they are not to be taken as legal advice.

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#1700054 - 05/16/12 01:56 PM Re: FINANCE ALL CLOSING COSTS AND RESPA newyork
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
We almost always finance all costs. They are itemized to the borrower just like you would anything else.
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My opinion only. Not legal advice.

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