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Force Placed Insurance

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

    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?
    Thanks,

    November 18, 2011 at 12:27 am EST #2822
    JGo9
    Participant

    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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