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#1707941 - 06/07/12 03:26 PM Broker fee
Ninky Offline
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Ninky
Joined: Nov 2002
Posts: 357
We do interim construction only. We require a take-out. We have no contractual agreements with brokers. We have been asked to collect the broker's origination fee for the permanent take-out loan at our interim construction closing. This has not been disclosed on our GFE, because it is not a fee attributable to our loan. It is not a p.o.c. because it is actually being collected at our closing. Where should this fee be disclosed on our HUD, or should we not be collecting this for the broker?

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RESPA
#1780305 - 01/28/13 05:59 PM Re: Broker fee Ninky
Rdy2Retire Offline
100 Club
Joined: Dec 2004
Posts: 117
GA Mountains
Does anyone out there do this?

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#1780391 - 01/28/13 07:43 PM Re: Broker fee Ninky
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,633
Galveston, TX
Since this purely involves a contract between the broker and the customer for a service that is outside of the current loan, it most likely would be best placed in the 100 series of the HUD-1. It is not a settlement fee.

Lines 104 and 105 are for additional amounts owed by the Borrower, such as charges that were not listed on the GFE
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