How to Handle Transfer Taxes on the New HUD-1
April 8, 2010
Since transfer taxes are a zero tolerance item, and more often than not are a sizeable amount, the failure to disclose transfer taxes in the GFE as a borrower pay item, can have significant financial consequences to the lender if the “improper” disclosure and handling of these taxes triggers a tolerance violation. Read on to learn how these fees should be handled.
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