Answer:
Your "loan fee" is an origination charge by another name. It goes in Block 1.
First published on BankersOnline.com 3/22/10
New RESPA Forms - Loan Fee Disclosure
Answered by:
Question:
We do not charge origination fees on residential real estate loans. We have always charged a set fee that has been called a "Loan Fee" which has always been considered a finance charge affecting the APR calculation. Where and how should we disclose this on the new RESPA forms?
print
share