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#2181870 - 06/14/18 07:53 PM TRID Valid COC
Anonymous
Unregistered

Do you have a valid change of circumstance if you add a charge for a Condo Questionnaire if the property type (Condo) was known prior to the initial LE being disclosed?

My thought is, if the property type is known and the condo charge is typical for condo questionnaires to be completed per agency requirements, then you would disclose on the initial LE. You would not wait for the condo association to say there is a charge to complete the questionnaire and then disclose the charge.

Agree or disagree?

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#2181875 - 06/14/18 08:03 PM Re: TRID Valid COC Anonymous
Tracey, CRCM Offline
Platinum Poster
Joined: Jul 2015
Posts: 542
Gorham, ME
If we have a condo loan, we always assume there will be a fee on disclose on the LE.
_________________________
Tracey

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#2182089 - 06/18/18 03:54 PM Re: TRID Valid COC Anonymous
Stephen McCall Offline
New Poster
Joined: Jun 2018
Posts: 17
Agreed. If knowledge of the property type = condo is what requires the Condo Questionnaire fee, and you know the property type @ application, then the estimate for that charge has to be provided on the Initial LE for it to be made in good faith.

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