Show Flood/Hazard as a POC Item on GFE?

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Question:

Can the hazard/flood insurance premium and property taxes be shown as a POC item on the GFE? We require that the borrower provide proof of insurance and taxes paid prior to loan closing.

Answer:

POC items have been prohibited on the GFE since the 2010 revisions. You will show them as a normal charge on the GFE and as a POC on the HUD.

First published on BankersOnline.com 5/13/13