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#2123939 - 03/28/17 03:09 PM Funds from Borrower = gift from relative
Heather Offline
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Joined: Mar 2017
Posts: 21
What rules are there are our borrower receiving funds as a gift from a relative to pay his down payment?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2123946 - 03/28/17 03:26 PM Re: Funds from Borrower = gift from relative Heather
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,164
Galveston, TX
The rules are what your bank or your investors require. If the funds come directly to the closing table, then they would be disclosed under "Other Credits" in Section L on the CD.
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