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#2156089 - 12/05/17 03:36 PM LE - Section G Initial Payment at Closing
JoAnne Offline
Platinum Poster

Registered: 02/07/01
Posts: 766
Loc: Michigan
My Lender would like to disclose one amount in Section G as "Escrow for 13 months" with one amount listed. I think this is not in compliance with 1026.37(g)(4) where it says to list each item separately. Am I missing something? He said other lenders are doing it the way he wants to do it. He said the Initial and Annual Escrow Disclosure statements would still be 12 months.
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TRID - TILA/RESPA Integrated Disclosures Rule
#2156110 - 12/05/17 04:59 PM Re: LE - Section G Initial Payment at Closing [Re: JoAnne]
Dan Persfull Offline
10K Club

Registered: 08/28/02
Posts: 44389
Loc: Bloomington, IN
Can you be more specific?

Is the loan officer only wanting to show one line item for taxes and insurance instead of showing each as separate line items? If so that would be a violation and I have never seen any bank disclose their escrow section that way.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2156332 - 12/06/17 04:53 PM Re: LE - Section G Initial Payment at Closing [Re: JoAnne]
John Burnett Offline

10K Club

Registered: 10/27/00
Posts: 36340
Loc: Cape Cod
"All the other guys are going to the party." (They weren't).
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John S Burnett
BankersOnline.com
Professional Compliance Nerd since 1976.

"Illegitimi non carborundum"

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