Does block 4 have a tolerance?

Yes, block 4 carries a 10% tolerance if the lender selects the third party provider or if the borrower selects the provider identified on the lender's service provider list.

Ok, that is what we thought. On our system it ask for us to select whether it is lender selected or lender identified. What is the difference?

Thanks for your help.

IMO, "lender selected" would mean that the lender does not allow the customer to shop and controls the selection of the title insurer, settlement agent, etc. "Lender identified" would mean that the provider was listed on the lender's service provider list and the borrower selected it from the list.

OK, that is what we thought. Just wanted a second opinion.

Thanks.