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#2094477 - 08/22/16 02:56 PM borrower refund of less than $1 for overage on CD
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,395
If amount for an item on the CD is off by just cents, am I correct that we still must do a new CD and refund the borrower the difference?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2094615 - 08/22/16 09:12 PM Re: borrower refund of less than $1 for overage on CD Truffle Royale
NoJustNo Offline
100 Club
Joined: Oct 2013
Posts: 221
Midwest
I'm not sure if it would necessarily apply, but I would assume that §1026.11 and §1026.21 could have some implications - with refunds of less than $1.00 not being required?

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#2094647 - 08/23/16 01:37 AM Re: borrower refund of less than $1 for overage on CD Truffle Royale
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Those sections have to do with payoffs. They do not apply to a CD.
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