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#2198734 - 11/20/18 02:38 PM Rounding and Truncation
RVFlyboy Offline
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RVFlyboy
Joined: Oct 2000
Posts: 5,991
Soaring over Georgia
I thought I had this down, but I'm confused and can't find a clear citation. On the Closing Disclosure, in the "Calculating Cash to Close" table - for the amounts in the "Loan Estimate" column - do we use amounts rounded to nearest dollar with decimal truncated ($529), amounts rounded to nearest dollar, but with decimals ($529.00) or amounts not rounded nor truncated ($529.43). What is the citation for your answer?
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TRID - TILA/RESPA Integrated Disclosures Rule
#2198747 - 11/20/18 03:30 PM Re: Rounding and Truncation RVFlyboy
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,357
Galveston, TX
It is a mixed bag. You disclose the total from the LE, which are in whole dollars on the CD cash to close table. Unrounded amounts are still used for tolerance purposes. However, if you look at the CD models in Appendix H, they all also disclose .00 in the LE column.
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