Under TILA, all of the following are included in the finance charges except?

The correct choice reflects that the appraisal fee is excluded from the finance charges under the Truth in Lending Act (TILA). TILA focuses on transparency regarding the costs of credit, ensuring consumers are aware of the total cost of their loans.

Finance charges include all fees and costs associated with obtaining a loan, such as interest charges, loan origination fees, credit report fees, and underwriting fees. These are considered costs that the borrower must incur to obtain credit.

However, the appraisal fee is not classified as a finance charge because it is typically paid directly to a third-party appraiser for an independent valuation of the property, rather than being a charge from the lender. This distinction helps consumers understand what costs are truly associated with borrowing funds when assessing their financial obligations.