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#2065755 - 02/24/16 04:42 PM LE/CD Homeowners Insurance
mdog76 Offline
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Section F: Prepaids on the LE: Homeowners insurance is to be listed here (if we are aware of that charge at the time the LE is prepared, most of the time they will be) correct?

On the CD, if the customer brings proof that homeowners has been paid prior to closing, does the charge still get listed on the CD or is removed from the charges.

Thanks

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TRID - TILA/RESPA Integrated Disclosures Rule
#2065760 - 02/24/16 04:49 PM Re: LE/CD Homeowners Insurance mdog76
RR Joker Offline
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The Swamp
We correct the amount, show it as POC and enter the company name and time period.
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My opinion only. Not legal advice.

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#2065772 - 02/24/16 05:08 PM Re: LE/CD Homeowners Insurance mdog76
mdog76 Offline
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Is there ever a time where homeowners insurance would be left blank?

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#2065954 - 02/25/16 01:19 PM Re: LE/CD Homeowners Insurance mdog76
PCBDebbie, CRCM Offline
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The only time we ever leave that blank is if we are not escrowing.

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#2065958 - 02/25/16 01:32 PM Re: LE/CD Homeowners Insurance mdog76
rlcarey Online
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Galveston, TX
Home owner's insurance would typically not appear on a refinancing, as the borrower already has insurance. Escrowing or not escrowing would not be a contributing factor.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2065964 - 02/25/16 02:04 PM Re: LE/CD Homeowners Insurance mdog76
mdog76 Offline
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So I am clear going forward, homeowners insurance should always appear on the LE/CD with a purchase and not typically with a refinance?

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#2065969 - 02/25/16 02:35 PM Re: LE/CD Homeowners Insurance mdog76
rlcarey Online
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rlcarey
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Galveston, TX
That is the way I see it. Not much different than with the old GFE.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2065973 - 02/25/16 02:40 PM Re: LE/CD Homeowners Insurance mdog76
mdog76 Offline
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Posts: 645
Thanks for the help!

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#2065989 - 02/25/16 03:02 PM Re: LE/CD Homeowners Insurance mdog76
RR Joker Offline
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The Swamp
Exactly what Randy said. We will show it on the LE and then POC on the CloD if the insurance is near coming due (or past due and renewal required) even on a refi...but if it's somewhere midstream, we don't show it at all.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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