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#2247107 - 01/04/21 05:20 PM Change in Lender Credit?
dutchbltz Offline
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Joined: Oct 2015
Posts: 189
We issued an initial CD showing a lender credit for exceeding tolerances in the 10% category, due to the attorney involved in the transaction telling us the recording fees had increased exceeding the 10%. After we had issued the CD, the attorney told us he was wrong, and the recording fees are less than he had said - and now there would be no tolerance.

Are we 'stuck' with giving the lender credit, or can we take it away now since there is now no tolerance violation?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2247113 - 01/04/21 05:45 PM Re: Change in Lender Credit? dutchbltz
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,293
Galveston, TX
There is no reason that a lender tolerance cure cannot change. Although I have seen investors that would not allow it.
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#2247117 - 01/04/21 05:53 PM Re: Change in Lender Credit? dutchbltz
dutchbltz Offline
100 Club
Joined: Oct 2015
Posts: 189
Ok cool. Everything we do is in-portfolio. I know the places I've worked before would NOT have reduced Lender Credit, but when researching it I couldn't quite identify why. That's probably it - investor rules.

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