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#2042448 - 10/05/15 02:45 PM Pest and Survey on Loan Estimate
leo_bsayer Offline
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Do pest and survey services need to go on the Loan Estimate if it's on the contract, but it's not required by the bank? I think it just needs to go on the Closing Disclosure, but I wanted to make sure.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2042451 - 10/05/15 02:56 PM Re: Pest and Survey on Loan Estimate leo_bsayer
Red Raiders Offline
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Compliance Land
If you had the contract prior to issuing the Loan Estimate and it said the pest and survey services were going to be completed then the estimates for these services are required to be listed in Section H of the Loan Estimate.
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#2042457 - 10/05/15 03:03 PM Re: Pest and Survey on Loan Estimate leo_bsayer
leo_bsayer Offline
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Thanks raiders. I was thinking that we wouldn't put it on the LE since the bank isn't requiring it, but regardless of whether we require it or not, I guess if we know it to be a charge, it should go on the LE.

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#2042480 - 10/05/15 03:33 PM Re: Pest and Survey on Loan Estimate leo_bsayer
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This is in the commentary to 1026.37(g)(4):

4. Examples. Examples of other items that are disclosed under § 1026.37(g)(4) if the creditor is aware of those items when it issues the Loan Estimate include commissions of real estate brokers or agents, additional payments to the seller to purchase personal property pursuant to the property contract, homeowner’s association and condominium charges associated with the transfer of ownership, and fees for inspections not required by the creditor but paid by the consumer pursuant to the property contract. Although the consumer is obligated for these costs, they are not imposed upon the consumer by the creditor or loan originator. Therefore, they are not disclosed with the parenthetical description “(optional)” at the end of the label for the item, and they are disclosed pursuant to § 1026.37(g) rather than § 1026.37(f). Even if such items are not required to be disclosed on the Loan Estimate under § 1026.37(g)(4), however, they may be required to be disclosed on the Closing Disclosure pursuant to § 1026.38. Comment 19(e)(3)(iii)-3 discusses application of the good faith requirement for services chosen by the consumer that are not required by the creditor.
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