Force Placed Insurance

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November 17, 2011 at 8:57 pm EST #2424

Anonymous
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When you force place flood insurance is it ok to add the purchased premium to the “end of the note” and accrue interest on it or is it necessary to code it as a non-accruing miscellaneous fee?
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November 18, 2011 at 12:27 am EST #2822

JGo9
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Unless your note allows you to add it and draw interest on it I would advise to code it as a non-accruing misc fee.
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