by faxonsettlement | Jun 24, 2015 | TRID
The second page of your Closing Disclosure details specific closing costs. Section A includes: Origination charges collected by the lender Origination fees paid to brokers, loan officers or other parties and Discount Points – prepaid interest. These...
by faxonsettlement | Jun 24, 2015 | TRID
Your lender provides the closing disclosure which lists the terms of your mortgage. You should receive it no later than 3 business days before consummation. It must be in writing – paper or digital. If the loan terms or costs change prior to consummation,...
by faxonsettlement | Jun 24, 2015 | TRID
When shopping for a mortgage use page three of your loan estimate to compare loans. “In X Years” shows the total amount you will have paid in that time, and the dollar amount applied to your loan principal. The ratio between total paid and principal reduced may...
by faxonsettlement | Jun 24, 2015 | TRID
Thus, understanding the LE. Taxes, certain pre-payments, and escrow funding. Recording fees are charged by government agencies for keeping legal ownership records, while “transfer taxes” may be imposed by states, counties and municipalities on real estate...
by faxonsettlement | Jun 24, 2015 | TRID
These costs are paid to outside parties, not the lender, but you don’t get to choose them. They may include: appraisal, which puts a value on your property on the lender’s behalf a credit report on you fees to assess flood risk of your property, or for ongoing...