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#2021696 - 06/19/15 09:11 PM Coupons Books and GFE
leo_bsayer Offline
Platinum Poster
Joined: Aug 2006
Posts: 645
The company that produces our coupon books charges us $2.50 for each book. This cost is absorbed by the bank and never passed on to the customer.

Does this fee need to be disclosed on the GFE, and if so, where?

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Lending Compliance
#2021711 - 06/19/15 09:57 PM Re: Coupons Books and GFE leo_bsayer
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
It is not a closing cost.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2021714 - 06/19/15 10:00 PM Re: Coupons Books and GFE leo_bsayer
leo_bsayer Offline
Platinum Poster
Joined: Aug 2006
Posts: 645
It is an origination cost. Does it not need to be included anywhere on the GFE or HUD-1?

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#2021715 - 06/19/15 10:01 PM Re: Coupons Books and GFE leo_bsayer
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
It's a servicing cost. You don't order to book until after the loan is closed.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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