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#2009591 - 04/22/15 07:13 PM Prepurchase Home Buyer Ed Fee
WHEDA Offline
100 Club
WHEDA
Joined: Apr 2009
Posts: 189
Wisconsin
Is fee for home buyer education/counseling a prepaid finance charge?

I'm leaning toward "yes", if face-to-face, or its equivalent, is required by the lender, regardless of who provides the education, and "no", if face-to-face isn't required by the lender but the borrower obtains the education from a source that charges them a fee. Am I close?

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Lending Compliance
#2009782 - 04/23/15 03:49 PM Re: Prepurchase Home Buyer Ed Fee WHEDA
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
I would concur with you, but I also know I have my secondary market investors who do not see it that way and mandate that it be included.
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#2010034 - 04/24/15 01:36 PM Re: Prepurchase Home Buyer Ed Fee WHEDA
WHEDA Offline
100 Club
WHEDA
Joined: Apr 2009
Posts: 189
Wisconsin
Thanks JJ. Anyone else?

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