Kansas: Finance Charges

Posted By: rrush

Kansas: Finance Charges - 08/05/15 04:21 PM

We are doing a mortgage loan in Kansas (buying a home) - we are located in Nebraska. There is a Mortgage Registration Tax that will be charged. We need to know if this fee is a "finance charge" - would it be charged in a similar cash transaction? Also - where would this go on the GFE/HUD? Bock 7 and line 1206? Any help would be appreciated.
Posted By: Patricia

Re: Kansas: Finance Charges - 08/27/15 06:01 PM

We put that in Block 8 on the GFE and on the HUD-1 it goes on line 1203 in the borrower's column and on line 1204 but not in borrower's column. This fee is not a Finance Charge and it has zero tolerance.