Posted by John on August 02, 2005 at 20:28:58:
I am not sure of your question. Lenders require these prior to closing the loan. They are paid by buyer at closing or before(most cases) these items are shown on HUD-1 settlement sheet. The lender never recieves the funds so it does not go on their books.
lender bookkeeping question - Posted by Bob
Posted by Bob on August 02, 2005 at 02:29:58:
How are lender-ordered expenses like appraisals, inspections, or title insurance shown on the lender’s books? Are they considered income to the lender, with corresponding deductions for payments to the aforementioned companies, or are they simply ignored by the lender bookkeeping-wise as the borrower’s cost of doing business? Assume the lender is charging no markup for these services.