Whats included in points and fees?
A lot more than just points and fees. The following are points and fees: 1. All items required to be disclosed under Section 226(a) and Section 226.4(b), except interest or the time-price differential. Section 226.4(a) and 226.4(b) are finance charges. 2. All compensation paid to mortgage brokers 3. All items listed in Section 226.4(c)(7) (other than amounts held for future payment of taxes) unless the charge is reasonable, the creditor receives no direct or indirect compensation in connection with the charge, and the charge is not paid to an affiliate of the creditor 4. Premiums or other charges for credit life, accident, health, or loss-of-income insurance, or debt-cancellation coverage (whether or not the debt-cancellation coverage is insurance under applicable law) that provides for cancellation of all or part of the consumer’s liability in the event of the loss of life, health, or income or in the case of accident, written in connection with the credit transaction.
