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#2241505 - 08/24/20 03:19 PM one time close, interest rate on the permanent
Dodge Offline
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Joined: Mar 2010
Posts: 266
Testing disclosures on a one time construction/permanent close product. Our loan platform vendor does not separate the Loan Estimate and Closing Disclosure for each phase, and the one disclosure is a little confusing. If we know the interest rate for the permanent phase would it not be disclosed somewhere on the disclosures? The permanent phase is a adjustable rate product, and the rate is known. The construction rate is disclosed under the interest rate and on the AIR table, which I believe is correct, but I could be wrong.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2241512 - 08/24/20 04:35 PM Re: one time close, interest rate on the permanent Dodge
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,226
Galveston, TX
Sounds right, but without the specifics, it is hard to say.
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