Answer:
List the fee as "Paid outside of closing - Lender". If you use a HUD-1, you can list the fee in the 800s in the borrower's column and then give them a credit in the 200s.
First published on BankersOnline.com 9/26/11
HUD Settlement Statement-Credit Report Fee
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Question:
I have a question about completing the HUD-1A settlement statement. The credit union pays the credit report fee on behalf of the borrower. The borrower pays other settlement charges. The credit union discloses an estimate of the credit report on the GFE form. When using the HUD-1A, how would you disclose the credit report fee to show that the lender is paying and not the borrower?
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