Thread Options
#2048291 - 11/05/15 06:41 PM Sharing CD with realtors
Carter'sMom Offline
Junior Member
Joined: Aug 2015
Posts: 38
Just got asked by a title company if we would allow them to give the realtors our CD at the closing table. How is everyone handling this?

Return to Top
TRID - TILA/RESPA Integrated Disclosures Rule
#2048296 - 11/05/15 06:56 PM Re: Sharing CD with realtors Carter'sMom
Gioia Offline
Member
Joined: Sep 2014
Posts: 82
We are only providing the CD to our borrower, if they want to give a copy to their realtor they can have at it. Have heard through the grapevine that some local realtors have come up with a "CD release" form to have their customer's sign to authorize them to receive a copy of the CD.

Return to Top
#2048302 - 11/05/15 07:17 PM Re: Sharing CD with realtors Carter'sMom
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,341
Doesn't really matter what kind of release form someone presents.
While some may not consider it great customer service, it is still within your prevue to refuse to give the CloD to anyone else.
I've always considered the HUD a personal document and never understood why a realtor feels they have a right to see it anyway.
You don't send a copy of the HUD to anyone else who gets paid via the closing (think surveyor, appraiser, etc.)
All the realtor needs to know is that their check amount is correct.

Return to Top
#2048307 - 11/05/15 07:21 PM Re: Sharing CD with realtors Carter'sMom
MonicaMc Offline
100 Club
MonicaMc
Joined: Dec 2013
Posts: 236
Land of Oz
We have told our Lender's that they are not to provide the CD to anyone except the buyer. And the Title Company will not be allowed to provide it to anyone at all. It is our CD and we will be the ones delivering it.

The Title Companies have control over their Settlement Statement, and they can provide that whomever they wish.

Return to Top
#2048315 - 11/05/15 07:37 PM Re: Sharing CD with realtors MonicaMc
tuma Offline
Gold Star
Joined: Feb 2003
Posts: 368
Here & There
Curious . . . what are you providing the Seller? Anything Prior to closing?

Return to Top
#2048327 - 11/05/15 08:07 PM Re: Sharing CD with realtors Carter'sMom
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
We're not providing anything to the seller...the attorney can if they want to. (we do not close our own loans that involve a seller unless it's ORE)
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

Return to Top
#2048329 - 11/05/15 08:10 PM Re: Sharing CD with realtors tuma
nulurch12 Offline
Member
Joined: Aug 2015
Posts: 86
NYC
As a lender we do not provide the seller with anything directly. What the closing agent or borrower does is up to them.

Return to Top
#2048356 - 11/05/15 09:09 PM Re: Sharing CD with realtors Truffle Royale
Gioia Offline
Member
Joined: Sep 2014
Posts: 82
I agree. We will see if any realtor actually presents one to us.

Return to Top
#2048373 - 11/05/15 09:59 PM Re: Sharing CD with realtors Carter'sMom
MonicaMc Offline
100 Club
MonicaMc
Joined: Dec 2013
Posts: 236
Land of Oz
Of the 5 CDs we have prepared so far, 4 of the title companies have sent us CD's in response to our request for their Settlement Statement. One Title Company, when we told them we are preparing our CD, were astounded when we told them we don't prepare anything for the Seller. They even asked what they were supposed to provide to the Seller!

Return to Top
#2049009 - 11/10/15 05:14 PM Re: Sharing CD with realtors Carter'sMom
MonicaMc Offline
100 Club
MonicaMc
Joined: Dec 2013
Posts: 236
Land of Oz
So it seems like the general consensus is that most Lenders are only preparing the borrower side of the CD and letting the Settlement Agent prepare the Seller CD. Are you retaining copies of the Seller CD for your file/investors?

Return to Top
#2049012 - 11/10/15 05:16 PM Re: Sharing CD with realtors Carter'sMom
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,976
Galveston, TX
1026.19(f)(4)(iv) Creditor's copy. When the consumer's and seller's disclosures under this paragraph (f) are provided on separate documents, as permitted under ยง 1026.38(t)(5), the settlement agent shall provide to the creditor (if the creditor is not the settlement agent) a copy of the disclosures provided to the seller under paragraph (f)(4)(i) of this section.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top