Amount Shown on 800 Series of HUD

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Question:

An up front collected Appraisal Fee is more than the invoice. A lender credit is to be shown on the HUD. What amount is shown in the 800 series of the HUD as the POC amount and the Comparison Page? The actual cost of the appraisal or the amount collected from the borrower?

Answer:

An amount that is collected up-front from the applicant would not impact page two or page three of the HUD-1. The upfront fee collected for the appraisal fee would be reflected in the 200 series on page one.

First published on BankersOnline.com 6/20/11