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#2049402 - 11/12/15 08:21 PM Refinance with cash out
nikki_compliance Offline
Platinum Poster
Joined: Mar 2010
Posts: 520
NM
We are doing an in house refinance and lending additional funds (new money) would the amount borrower is taking be on Cash to close at bottom of Closing Disclosure.

Or should the amount to borrower go somewhere else?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2049419 - 11/12/15 08:53 PM Re: Refinance with cash out nikki_compliance
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
38(i)(9) Cash to close.

Paragraph 38(i)(9)(ii).

1. Final cash to close amount. The “Final” amount of “Cash to Close” disclosed under § 1026.38(i)(9)(ii) is the same as the amount disclosed on the Closing Disclosure as “Cash to Close” under § 1026.38(j)(3)(iii). If the calculation required by § 1026.38(i)(9)(ii) yields a negative number, the creditor or closing agent discloses the amount as a negative number.
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