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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule Purchase Agreement - Seller Paid Settlement Costs
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#2111501 - 12/20/16 04:47 PM Purchase Agreement - Seller Paid Settlement Costs
dwedding Offline
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Joined: Apr 2003
Posts: 122
LO received an application where the Purchase Agreement outlines the Seller will pay settlement costs. The LO does not include the settlement fee on the LE and the settlement fee was not included on the CloD, but it should be included on the Sellers CloD, correct?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2111634 - 12/21/16 01:00 AM Re: Purchase Agreement - Seller Paid Settlement Costs dwedding
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,364
Galveston, TX
It should be on the buyer's CD as paid by seller also.
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#2111645 - 12/21/16 01:30 PM Re: Purchase Agreement - Seller Paid Settlement Costs dwedding
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
The borrower's CloD, page 2, includes costs related to the transaction (the purchase of the real estate, the loan, recording and tax costs, real estate brokers fees, etc. -- everything) regardless of who pays them.
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