Skip to content
BOL Conferences
Thread Options
#1715414 - 06/28/12 05:08 PM Finance Charge
getinfo Offline
New Poster
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?

Return to Top
Lending Compliance
#1715451 - 06/28/12 05:30 PM Re: Finance Charge getinfo
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,223
Galveston, TX
It would only be excludable if it was a filing fee payable to a governmental agency.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#1715454 - 06/28/12 05:33 PM Re: Finance Charge getinfo
getinfo Offline
New Poster
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.

Return to Top

Moderator:  Andy_Z