I'm sure this is going to make sense once I get my head around this but what exactly is this field. I found it in the SEG but it does not explain what it is.
I'm thinking an application fee?

I think this is the field you're referring to:

1003.4(a)(33)(ii) Whether the obligation arising from the covered loan was, or in the case of an application, would have been initially payable to the financial institution.

Agreed, I assume you're talking about the requirement to report whether the application/loan is initially payable to your FI or not under 1003.4(a)(33)(ii).

By the way, what is the SEG, do you mean FIG? Or did I just miss something.

Small Entity Guide.

Ah, thanks TMatt87.