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#2246381 - 12/10/20 02:58 PM Shopping for Services
cartershaw2000 Offline
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Joined: Jun 2019
Posts: 2
I haven't seen this scenario in other posts, so here goes.

We have a Loan Estimate that accidentally disclosed a fee as 'can shop for', however it is a rider fee that isn't able to be shopped for. We did not send the SSPL.

This is not a changed circumstance obviously so is this something we just leave and then place in the correct section on the Closing Disclosure as 'Did Not Shop For'?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2246382 - 12/10/20 03:14 PM Re: Shopping for Services cartershaw2000
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,358
Galveston, TX
If the borrower may not actually shop, then yes, it would go in Section B of the CD and would have to be cured.
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#2246440 - 12/11/20 06:08 AM Re: Shopping for Services cartershaw2000
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Just to clarify, would the cure in this scenario be calculated as part of the 10% bucket? Or as an individual cannot change item? My recollection is that it is 10%.
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#2246442 - 12/11/20 12:52 PM Re: Shopping for Services cartershaw2000
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,358
Galveston, TX
The OP indicated that it was a fee for a service that the borrower could not shop that was disclosed in error in Section C - so it belonged in Section B from the get-go and thus would be 0% tolerance.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2246452 - 12/11/20 04:49 PM Re: Shopping for Services cartershaw2000
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Joined: Apr 2016
Posts: 283
Thanks for the clarification. I was thinking about the 10% because the SSPL had not been sent but that would only matter if the service was disclosed in Section C first and the SSPL had not been provided.
_________________________
Opinions expressed are my own and do not reflect legal advice or the opinions of my employer.

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