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What charges from the payoff can be included when calculating an FHA rate/term refinance or streamline refinance?

Answer
The existing first mortgage must be current for the month due. The payoff amount may not include delinquent interest, but may include
The interest charged by the servicing lender (when the payoff will not likely be received on the first day of the month - as is typically assessed on FHA-insured mortgages)
Any prepayment penalties assessed on a conventional or a FHA Title I loan
Late charges and escrow shortages (are eligible for inclusion) only in a credit qualifying rate/term refinance transaction with an appraisal.

For additional information refer to ML 11-11 and Handbook 4155.1 3.B.1, 3.C, 6.C
 

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