On the estimated settlement statement when it says Paid Outside of Closing (poc) who is actually paying this? The borrower is paying out of pocket, or the lender or borrower, the escrow officer or the loan processor?

POC means that the borrower (most of the time) is making the payment either before or after the closing. An example would be a mortgage application fee that the borrower pays at the time they apply for the mortgage. It gets listed on the settlement statement as POC because it was paid before closing but it's still part of the closing costs.

I'm sorry but I did not understand you answer to my question so I'll ask again. On the estimated settlement statement and there is Paid Outside of Closing, who is actually paying this amount . Is it The borrower paying out of pocket or the lender or borrower or the escrow officer or the loan processor. Thanks

:) Most of the time it's the borrower paying it out of pocket. If someone else will be paying it then it will say so.

(Next time please do a follow-up to your previous post instead of starting a new thread. It makes it easier to keep track.)

Ask your lender, it may be a combination.

{threads merged}