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#2228926 - 01/13/20 10:40 PM HOA "Transfer Fee"
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,403
California
A HOA Management Company is charging our borrower (new owner of a condo) a "Transfer Fee" to transfer the HOA from the Seller. Would this be a prepaid finance charge?

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Lending Compliance
#2228928 - 01/13/20 10:59 PM Re: HOA "Transfer Fee" Tarhe
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
No - it is not a lender requirement, it goes in Section H. Anything in Section H is never a finance charge.
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#2228966 - 01/14/20 04:39 PM Re: HOA "Transfer Fee" Tarhe
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,403
California
Thank you!

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