Posted By: Soccer
Application Payable Field - 08/17/17 01:42 PM
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?
Posted By: TMatt87
Re: Application Payable Field - 08/17/17 03:51 PM
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.
Posted By: GTS333
Re: Application Payable Field - 08/18/17 03:17 PM
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.