Skip to content
BOL Conferences
Thread Options
#2255350 - 06/15/21 08:58 PM Seller fees on buyers closing disclosure
newyork Offline
Gold Star
Joined: Aug 2008
Posts: 452
If a buyer's closing disclosure is sent to closing, and includes the seller fees, but at closing the seller's closing disclosure is modified by the title company. Upon receipt of the final executed package we find the seller closing disclosure has different fees from our buyer closing disclosure.

do we have to get the buyer closing disclosure re-signed again?

Return to Top
TRID - TILA/RESPA Integrated Disclosures Rule
#2255354 - 06/15/21 09:12 PM Re: Seller fees on buyers closing disclosure newyork
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
No - it does not impact the amount the buyer had to pay - it would be an uncorrectable error.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2255355 - 06/15/21 09:15 PM Re: Seller fees on buyers closing disclosure newyork
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
If the differences do not affect the amount the borrower/consumer/buyer paid for any costs listed on the consumer's closing disclosure, no.

I will say that if the title company conducted the closing on the bank's behalf, it should have produced a new closing disclosure with the correct seller's costs on it, on the bank's behalf. But since it did not, and if there's no change to the borrower's "bottom line," you don't have to produce another closing disclosure.

That said, if you WANT to provide the boyer with the accurate amounts, you are free to send an updated closing disclosure, but there's no requirement that you get the borrower's signature on it.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top