Credit Report on the GFE

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Question:

If the bank is absorbing the cost of the credit rport, are we are still required to put it on the GFE? How do we list that? POC? Since we have to list it on the GFE, do we subtract the fee from Block A and then add it back to Block B on the GFE?

Answer:

You can find helpful discussions of this topic here, and here. A search in the Lending Forum will produce several other discussions. You must show the cost of the report in Block 3, and you either show a credit in Block 2 or in the 200 series on the HUD 1 Settlement Statement.

First published on BankersOnline.com 5/03/10