12/27/2015
Under the new TRID rule, where would a Condo Questionnaire Fee be disclosed on the Loan Estimate? The questionnaire is required for the transaction but some condos may or may not charge such fee.
12/20/2015
In regards to TRID's services that a consumer is permitted to shop for, if the customer does not select a service provider and requests that the lender choose a service provider for them, is the amount charged subject to the 10% cumulative tolerance?
12/20/2015
With the new TRID regulations from October 3, now placing lot loans under Regulation Z, in the event of refinancing a lot loan, does the right of rescission apply?
12/06/2015
We have a purchase contract that lists the seller paying both pest and warranty, are these disclosable?
11/29/2015
We had a customer apply for a loan secured by their primary dwelling. The rate was locked at 3.75%. The revised GFE was issued stating the rate at 3.875%. Correct rate is 3.75%. Is this considered a changed circumstance?
11/29/2015
Is the disclosure of prepaid property taxes required on both the LE and CloD only if a creditor requires that this be prepaid?
11/22/2015
How do we handle escrows for repairs on the LE and on the CD when we hold them and when the title company holds them?
11/22/2015
I am doing a 6 month interest only loan to a customer to make home improvements. I am not escrowing for taxes or insurance for this loan. Do I still need to disclose the "Estimated Taxes, Insurance, and Assessments" on page 1 of the new Loan Estimate?
11/15/2015
I have a question regarding tolerance categories once the TRID rules go into effect. Here is my potential scenario:
Our customer chooses to purchase Owner's Title Insurance. We do not require that they do this as a condition of the loan. What if the company they choose is an affiliate of our company. Would this fall into the no limit or zero tolerance category?
11/15/2015
Our institution has a mortgage loan secured by the borrower's business; the loan proceeds are for personal use. The borrower wants this set up as a single-pay but our loan originating system keeps bringing up a negative amortization warning and ask the originator to switch to a balloon payment or ARM. Is a single-pay an option or is it not allowed for a consumer purpose loan?