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#2207882 - 03/05/19 11:01 PM Montana
larmanini Offline
Junior Member
Joined: May 2018
Posts: 30
I am trying to find where in the statutes where it states that we cannot list the realtors commission on the borrower's closing disclosure. Any ideas?

My understanding is that we can list the commissions.

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#2207884 - 03/05/19 11:15 PM Re: Montana larmanini
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
In Montana? TRID requires it to be shown. State law cannot trump Federal law.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2207887 - 03/05/19 11:44 PM Re: Montana larmanini
larmanini Offline
Junior Member
Joined: May 2018
Posts: 30
That is what I thought but I have people second guessing me.

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#2207890 - 03/06/19 12:01 AM Re: Montana larmanini
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Just show them this:

1026.38(g)(4) Other.

4. Real estate commissions. The amount of real estate commissions pursuant to § 1026.38(g)(4) must be the total amount paid to any real estate brokerage as a commission, regardless of the identity of the party holding any earnest money deposit. Additional charges made by real estate brokerages or agents to the seller or consumer are itemized separately as additional items for services rendered, with a description of the service and an identification of the person ultimately receiving the payment.

And while 1026.38(t)(5)(v) allows separation of some seller and borrower information, the borrower must get everything that is required to be disclosed on Page 2 of the CD.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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