Posted by Ronda Roaring on 9/8/08 1:32pm
Msg #263559

question re good faith estimate

On line 800 on the right-hand side are the initials PFC, S, F and POC. What do PFC, S and F stand for? Thanks.

Reply by Becca_FL on 9/8/08 1:48pm
Msg #263563

PFC = Paid for at closing
POC = Paid outside of closing

S=Seller
L= Lender
B=Borrower

F = ? never seen that.

As an example, the appraisal fee on the HUD and the GFE may be listed as POC-B, meaning the borrow paid for the appraisal in advance of the closing.

Reply by Dawn/PA on 9/8/08 1:49pm
Msg #263564

Perhaps the copy is bad and what appears to be an "F" is actually a "B".

Reply by PAW on 9/8/08 2:18pm
Msg #263568

Wrong answer, Becca. n/m

Reply by PAW on 9/8/08 2:19pm
Msg #263569

Oops, pressed the return key too soon

On the GFE, you will see four acronyms in the top bar on line 800 at the far right side. ‘PFC’ stands for Prepaid Finance Charge. Any line item showing a check mark in this column is included in the APR calculation. ‘S’ stands for Seller Paid, as in a purchase transaction where a seller might cover particular costs for a buyer. ‘F’ stands for FHA Allowable cost. ‘POC’ stands for Paid Outside of Closing and pertains mostly to third party fees like Appraisal costs.

Reply by Ronda Roaring on 9/9/08 12:53pm
Msg #263693

Thanks, I'm glad I asked.

x

Reply by Becca_FL on 9/8/08 2:24pm
Msg #263571

Re: Wrong answer, Becca. You're right

Sorry. PFC=Prepaid Finance Charge

Reply by NCLisa on 9/8/08 3:01pm
Msg #263576

There may not have been a note if this was a developer or

builder loan. They may already have a huge loan, and the package would have contained a modification or something along the lines of 5-10 page document that extended the credit limit, or just documentation that this tract had been added as collateral to the existing loan besides the DT. There also would be no TIL on a loan like this.

Reply by NCLisa on 9/8/08 3:02pm
Msg #263577

OOPS...Wrong Thread...

How weird.