This figure represents the additional points or loan origination fees
for Case II.
Fast Growing Private Mortgage Fund to Let Brokers Control Loan Origination Fees
The Company reported loan origination fees
and gain on sale of loans of $4.
The Company also reported loan origination fees
and gain on sale of loans of $5.
As a result of the conversion, the Company was able to charge management fees, loan origination fees
and investment advisory fees to its portfolio companies and other firms with which it did business.
Expenses associated with these events include the amortization of loan origination fees
, interest expense and a compensation expenditure resulting from the Company's decision to repurchase stock acquired by employees under its stock option award program as part of the tender offer.
In PNC, the Tax Court had also relied on INDOPCO to require loan origination fees
to be capitalized.
Mortgage loan origination fees
of $66,000 for the quarter helped offset $79,000 in Real Estate Owned expenses.
All documentation closing costs and loan origination fees
are waived for loan amounts up to $500,000 under this program.
The increase is primarily attributed to an increase in loan origination fees
of approximately $74,000 and an increase in other income of approximately $21,000.
b) Zero loan origination fees
with $200,000 initial draw, exclusive of third party charges.
The points must be designated on the Uniform Settlement Statement as points (for example, as loan origination fees
(including amounts so designated on Veteran Affairs (VA) and Federal Housing Administration (FHA) loans), loan discounts or discount points), and shown as paid from either the borrower's or seller's funds at settlement.