Skip to content
BOL Conferences
Thread Options
#2245743 - 11/20/20 05:57 PM Calculating Cash To Close - Seller Credit Error
Shih_Tzu_Lvr Offline
Member
Joined: Nov 2011
Posts: 86
I am reviewing a Loan Estimate where there appears to be a Seller Credit, that was entered inadvertently.

If it was a lender entry error and there is no Seller Credit, does the lender have to "cure" this?

I know Lender Credits cannot change, but what about Seller Credits?

Return to Top
Lending Compliance
#2245745 - 11/20/20 06:06 PM Re: Calculating Cash To Close - Seller Credit Error Shih_Tzu_Lvr
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,370
Galveston, TX
Seller credits are not subject to tolerance testing, however you still have to deal with the fact that the LE was not issued in good faith. Does that rise to the level of curing or a potential UDAAP issue - that would be a business decision.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z