Answer:
- From a March 2010 HUD Webinar:
Block 11 - for homeowners insurance we no longer have to disclose a premium for refinancings and subordinate lien loans unless the premium is coming due and we will require it to be paid as a condition of the closing. You must still disclose homeowners insurance in Block 11 but you will show a $0.00 premium due and you must show $0.00. You cannot use NA. - Yes. The Credit Report Fee, Flood Determination Fee, etc. must be disclosed in the appropriate box on the GFE and the appropriate line on the HUD.
- Yes. However remember any credit shown in Block 2 cannot be reduced if the fees come in lower than expected. It is recommended to give the customer an "informal" cash-to-close statement and then provide a lender credit which is disclosed in the 200 series of the HUD.
First published on BankersOnline.com 7/1/13