Posted By: getinfo
Finance Charge - 06/28/12 05:08 PM
Is a processing fee incurred by the lender and passed on to the borrower at loan payoff (e.g. processing fee for satisfying mortgage) considered a finance charge?
Posted By: rlcarey
Re: Finance Charge - 06/28/12 05:30 PM
It would only be excludable if it was a filing fee payable to a governmental agency.
Posted By: getinfo
Re: Finance Charge - 06/28/12 05:33 PM
How is this charge factored in to the equation for calculating the APR? For example prepaid finance charges are subtracted from the amount financed.