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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule Earnest Deposit
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#2087602 - 07/12/16 06:29 PM Earnest Deposit
mdog76 Offline
Platinum Poster
Joined: Jan 2007
Posts: 645
We issued a LE and did not list the earnest deposit from the customer on it. The CD was also issued without it as well. Is this something that can be correct with a new CD? I'm not sure about this one.

Thank You.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2087628 - 07/12/16 07:39 PM Re: Earnest Deposit mdog76
PCBDebbie, CRCM Offline
100 Club
Joined: Aug 2015
Posts: 156
Yes. A new CD can be issued for the closing to reflect the earnest money deposit.

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#2087653 - 07/13/16 12:07 PM Re: Earnest Deposit PCBDebbie, CRCM
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Originally Posted By PCBDebbie
Yes. A new CD can has to be issued for the closing to reflect the earnest money deposit.
Otherwise, Cash to Close will be incorrect or your borrower won't get credit at closing for the deposit.
Last edited by John Burnett; 07/13/16 12:08 PM.
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#2087740 - 07/13/16 05:10 PM Re: Earnest Deposit mdog76
PCBDebbie, CRCM Offline
100 Club
Joined: Aug 2015
Posts: 156
^^ Correct.

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