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#2160278 - 01/11/18 08:46 PM Cure counts as cashback for loan program?
Vive Accommodare Offline
Gold Star

Registered: 04/11/13
Posts: 406
Loc: Compliance
When we have a cure we need to issue to our Borrower, would the issue of a Loan Program only allowing a certain amount of cash back prohibit us from simply cutting a check to the Borrower if it were to be an amount over the cash back threshold?
"Tact is telling someone to go to [censored] in such a way, they look forward to the trip" Winston Churchill

TRID - TILA/RESPA Integrated Disclosures Rule
#2160280 - 01/11/18 09:03 PM Re: Cure counts as cashback for loan program? [Re: Vive Accommodare]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 65795
Loc: Galveston, TX
It may, but this is a loan program issue. The amended TRID commentary addressed this and allows a principal reduction - check with your investor as to how to handle.
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