Last-minute closing cost increases

Answered by:

Question:

Can we now use a revised Closing Disclosure to adjust a closing cost that’s increased after we’ve delivered the Closing Disclosure, and not have to absorb the increase?

Answer:

If the increase involves a changed circumstance or other change under § 1026.19(e)(3)(iv), you can use the Closing Disclosure or a revised Closing Disclosure to disclose the cost increase and avoid having to absorb it, if it is provided within three business days of learning of cost increase and at or before closing.
-----------------------------
Learn more about John Burnett’s webinar
Closing Disclosures under TRID 2.0