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ibm9545
Guest
Please help me with a tax related question concerning mortgage broker fees.
Here's the situation:
I recently relocated to another state for a new job and used a mortgage broker for financing. On the closing instructions to the title company from the mortgage broker it states:
"please remit to broker $325 processing fee, $30 courier fee, and the mortgage broker fee of $1643.68 (POC) all NCM fees are net funded."
On the HUD1 it does not show in either origination fee or discount fee lines. On the 1099 I received from the lender the points paid box is blank.
My question (I realize it is a long shot and have not been able to find any reference to it anywhere) is the following:
Is this in effect hidden points that were in the loan terms that I received from the mortgage broker. The lender paid the mortgage broker for finding me as a borrower. That payment from the lender I actually paid indirectly through my interest rate. Does this qualify as points for itemized deduction purposes? Surely I am not the first person who has ever had this thought.
Thanks for all of your help!
IBM9545
Here's the situation:
I recently relocated to another state for a new job and used a mortgage broker for financing. On the closing instructions to the title company from the mortgage broker it states:
"please remit to broker $325 processing fee, $30 courier fee, and the mortgage broker fee of $1643.68 (POC) all NCM fees are net funded."
On the HUD1 it does not show in either origination fee or discount fee lines. On the 1099 I received from the lender the points paid box is blank.
My question (I realize it is a long shot and have not been able to find any reference to it anywhere) is the following:
Is this in effect hidden points that were in the loan terms that I received from the mortgage broker. The lender paid the mortgage broker for finding me as a borrower. That payment from the lender I actually paid indirectly through my interest rate. Does this qualify as points for itemized deduction purposes? Surely I am not the first person who has ever had this thought.
Thanks for all of your help!
IBM9545