by faxonsettlement | Jul 30, 2017 | TRID
With a few exceptions, TRID rules apply to MOST consumer credit transactions secured by real property. These include mortgages, refinancing, construction-only loans closed-end home-equity loans, and loans secured by vacant land or by 25 or more acres. Questions...
by faxonsettlement | Jul 20, 2017 | TRID
It is always a good idea to gather at least three estimates from providers for “Services You Can Shop For” to find the most competitive pricing and get the best deal. YOU are free to shop and compare providers for a variety of services. These might...
by faxonsettlement | Jul 15, 2017 | TRID
When there is a change in circumstances lenders can redisclose , examples such as: a natural disaster damages the property or affects closing costs the title insurer providing the estimate goes out of business during underwriting new information on you or the...
by faxonsettlement | Jun 24, 2017 | TRID
The second page of the Loan Estimate provides the current ESTIMATED cash to close. Some costs will stay the same between estimate and closing. Some will change. A – Origination Charges – should match. B – Can’t Shop – 10% Tolerance C...
by faxonsettlement | Jun 7, 2017 | TRID
If an eligible loan proceeds from Estimate to closing, lenders must provide a Closing Disclosure form documenting the actual transaction terms and costs THREE business days before consummation. It must be in writing, whether paper or digital, and disclose ONLY...
by faxonsettlement | Jun 7, 2017 | TRID
The forth page of your Closing Disclosure is important. It is NOT just standardized form information that is identical for every loan. Review these terms: Assumption: can this loan be transferred to another person if you sell or transfer the property? Demand:...
