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    HUD-1 Statement

    Anyone want to guess as to why there would be negative origination points in Box 802?

    The taxpayer does not know and my guessing is all gone to sleep.

    Thanks

    Kurly

    #2
    I've seen it before but can't recall exactly why.
    Did the seller agree to pay a fixed dollar amount of closing costs?
    If so, and if they ran out of other costs, they may have minused the origination fee to bring the HUD-1 into balance into balance.
    "The only function of economic forecasting is to make astrology look respectful" - John Kenneth Galbraith

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      #3
      Hud-1

      SORRY this was not a purchase this was a refinance.

      K

      Comment


        #4
        I have seen that too and, at that time, even found the explanation (2 years ago) but do not really remember. I believe it has to do with falling interest rates.

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          #5
          For the past two or three years many banks do not charge any fees on a refi and will often pay the fee for the client if the mort is with a different bank.

          I've seen minus discounted or waived fees many times.
          Believe nothing you have not personally researched and verified.

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            #6
            Got one right in front of me. It is just an accounting maneuver. Origination charges is big number, next line is negative points, resulting in net origination charge of #1 less #2, or the difference. So nothing is deductible.

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