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#1715414 - 06/28/12 05:08 PM Finance Charge
getinfo Offline
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Joined: May 2011
Posts: 19
Is a processing fee incurred by the lender and passed on to the borrower at loan payoff (e.g. processing fee for satisfying mortgage) considered a finance charge?

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Lending Compliance
#1715451 - 06/28/12 05:30 PM Re: Finance Charge getinfo
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,923
Galveston, TX
It would only be excludable if it was a filing fee payable to a governmental agency.
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#1715454 - 06/28/12 05:33 PM Re: Finance Charge getinfo
getinfo Offline
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Joined: May 2011
Posts: 19
How is this charge factored in to the equation for calculating the APR? For example prepaid finance charges are subtracted from the amount financed.

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