10/08/2017
If a fee that is normally charged on a TRID transaction is inadvertently omitted from the LE but added to the CLoD, would that be subject to a cure of the entire amount? Example, the fees for lender's title insurance, the settlement/closing fee, recording fees were completely omitted from the LE that was delivered to the applicant. Even though these fees are normally subject to a 10% tolerance, shouldn't they be totally cured since they were not disclosed on the LE?
07/02/2017
Do we state the split of Real Estate Broker Commission on the Closing Disclosure?
06/18/2017
Would an escrow waiver fee be disclosed in the Loan Origination Section and in the Escrow Waiver Fee section?
04/09/2017
I am auditing a bank and verifying consumer 1-4 family loans are not HPMLs. I am using the Closing Disclosure date and APR to perform my testing. Am I using the correct date and APR?
02/26/2017
If a fee is POCL, the borrower was never intended to pay for the fee, should the fee be disclosed on the Loan Estimate?
If we disclose these and the fees change (appraisal fee or credit report fee) and we adjust the POCL then it appears we are violating the specific lender credit by changing it, usually lowering the POCL fee. Should this only be disclosed on the CLoD or not disclosed at all since the borrower is not required to pay the fee?
What has confused me are these two articles/posts which make it appear if it is a POCL or lender paid fee then it does not have to be disclosed on the LE.
https://www.bankersonline.com/qa/lender-credits-loan-estimate#.V_fS_nldqlc.email
https://www.bankersonline.com/qa/new-loan-estimateclosing-disclosures#.V_fS0lp1YlY.email
01/29/2017
In my search for guidance on e-Sign compliance for delivery of appraisals (Reg B) and Closing Disclosures (Reg Z) there seems to be a difference in what is recommended for Reg B & Reg Z. All the guidance on delivery of the closing disclosure states that a read or delivery receipt is not a recommended method of documenting proof of the date delivery occurred. However, guidance on Reg B delivery date of the appraisal tends to lean the other way and regarding a read/delivery receipt. In fact the commentary
1002.14(a)(4)(I) even states ... “Delivery occurs three business days after mailing or delivering copies... or when evidence indicates actual receipt by the applicant, whichever is earlier". With the commentary in mind is it necessary for us to get a confirmation e-mail to document the actual date of delivery of the appraisal or can we simply apply the guidance from the commentary and rest on the delivery occurred three business days after xmailing whether snail or electronic mail?
01/22/2017
If we opt to have the consumer sign a CD at closing in addition to the one that they sign 3 days prior, should that second CD be dated the date of closing or should we make a copy of the one that they received before closing with that date issued?
11/13/2016
What should be done if an inaccuracy, requiring a corrected Closing Disclosure, was discovered more than 30 days after consummation or a clerical error, requiring re-disclosure, was discovered more than 60 days after consummation?
07/31/2016
Assume we mailed the Closing Disclosure on 03/08/2016. Can one of the borrowers sign the loan docs on 03/09 and the other one sign on the expected closing date of 03/15/2016 as scheduled? is it respecting the 3 days timeframe?
07/24/2016
After closing on a real estate, if the fee charged for an attorney or abstract is under what we cut the check for, do we need to issue a new closing disclosure to the customer? I understand they will receive the refund, but not sure on the CD part.