We have a customer who wants to finance the construction of a barn on his homestead property. The loan officer says this is business purpose because the customer will have a horse operation in the barn and earn additional income (he has a full time job). I disagree and believe TRID applies. Which do you think it would be and why?
Can I just charge less in order to cure a TRID tolerance violation?
What is the TRID owner’s and lender’s title insurance calculation?
When issuing a revised LE at the time the bucket overflows, do we disclose changes to only the fee that threw us out of 10% cumulative tolerance or can we disclose changes to all of the fees that affected the 10% tolerance?
Can seller-related information be omitted from sections M and N on page 3 of the borrower’s Closing Disclosure?
If we meet the customer in person, we are using the date the customer signed the Closing Disclosure as our proof they received it earlier. Does this documentation work?
On a secondary market loan where our loan servicer charges a tax service fee, should that be included in the origination charges section or services you cannot shop for?
We had a construction loan where the builder provided insurance for the borrower until the home was completely built and they could move in. How should the homeowners insurance be disclosed on the closing disclosure?