Paid Outside Closing

Paid Outside Closing

"Paid Outside Closing" or POC is a term used to describe fees or payments rendered outside of normal title insurance and underwriting fees due at the time of closing a loan. When acquiring a mortgage or refinancing, a lender or broker may show that an appraisal fee is POC because the fee is usually due at the time of service, prior to closing. For a $0 closing cost loan, this is often refunded to the borrower at the time of closing.


Wikimedia Foundation. 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • Yield spread premium — The yield spread premium (YSP) is the cash rebate paid to a mortgage broker based on selling an interest rate above the wholesale par rate that the borrower qualifies for. For example, If a mortgage broker offers a borrower a loan of $100,000 at… …   Wikipedia

  • POC — is a three letter acronym that can stand for: *Paid Outside Closing, monies paid in real estate transactions not included in calculations to borrower or seller *Particulars of Claim, In UK law, a summary argument filed at the instigation of a… …   Wikipedia

  • Business broker — A business broker is a person or firm who/which acts as an intermediary between sellers and buyers of small businesses. Business brokers, also called business transfer agents, or intermediaries, assist buyers and sellers of privately held small… …   Wikipedia

  • Good faith estimate — A good faith estimate must be provided by a mortgage lender or broker in the United States to a customer, as required by the Real Estate Settlement Procedures Act (RESPA). The estimate must include an itemized list of fees and costs associated… …   Wikipedia

  • Allan Bloom — Infobox Philosopher region = Western Philosophy era = 20th century philosophy color = #B0C4DE image caption = name = Allan Bloom birth = 14 September 1930 Indianapolis, Indiana, United States death = 7 October 1992 Chicago, Illinois, United… …   Wikipedia

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

  • Business and Industry Review — ▪ 1999 Introduction Overview        Annual Average Rates of Growth of Manufacturing Output, 1980 97, Table Pattern of Output, 1994 97, Table Index Numbers of Production, Employment, and Productivity in Manufacturing Industries, Table (For Annual… …   Universalium

  • performing arts — arts or skills that require public performance, as acting, singing, or dancing. [1945 50] * * * ▪ 2009 Introduction Music Classical.       The last vestiges of the Cold War seemed to thaw for a moment on Feb. 26, 2008, when the unfamiliar strains …   Universalium

  • football — /foot bawl /, n. 1. a game in which two opposing teams of 11 players each defend goals at opposite ends of a field having goal posts at each end, with points being scored chiefly by carrying the ball across the opponent s goal line and by place… …   Universalium

  • education — /ej oo kay sheuhn/, n. 1. the act or process of imparting or acquiring general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself or others intellectually for mature life. 2. the act or process of… …   Universalium

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”