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During testing I came accross an SMD refinance (no cash out) loan that closed around the time annual property taxes were due. We financed the property taxes due and they were shown in Block 6 on the GFE? My understanding is property taxes are not listed on GFE ever. When I questioned them on this they said it was the only way they could disclose the taxes and it not be considered a cash out loan? Two questions:
1) Am I right in stating property taxes should never be shown on the GFE?
2) Should this loan have been considered a cash-out loan requiring right of rescission?
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