Shopping For Your Home Loan: Hud'S Settlement Cost Booklet - U.s. Department Of Housing And Urban Development (Hud) Page 24
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48Line 807 is the fee paid to the service providing information on whether the
property is in a flood zone.
Lines 804, 805, 806 and 807 usually reference GFE Block 3.
Lines 808 and any additional lines are used to list other third party services
required by your lender, including FHA or VA fees.
900 Series, Items Required by Lender to be Paid in Advance
These are charges which the lender requires to be prepaid at settlement.
Line 901 lists the daily interest charges collected for the period between the
date of your settlement and the first day of the next month. This charge is disclosed
in Block 10 of your GFE.
In this example, the loan closed on 1/31/10, and the
interest on the GFE was calculated with a 1/31/10 closing date so the charges are the
same on both. This amount on Line 901 may differ from the amount on the GFE if the
settlement date changes.
Line 902 lists the charge for any up-front mortgage insurance premium
payment due at settlement. This is one of the charges disclosed in GFE Block 3 of
your GFE. In this example, there is no payment due.
Line 903 is the charge for the homeowner’s insurance policy and is one of the
charges disclosed in Block 11 of your GFE. In the example, the homeowner’s
insurance was paid prior to the day of settlement so the charge is listed as “P.O.C. by
borrower”. P.O.C. stands for “Paid Outside of Closing”. You typically have to bring a
pre-paid insurance policy to your settlement.
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