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#2296639 - 04/30/24 04:23 PM Disclosing PMI on TRID Disclosures
Tarhe Offline
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Joined: Nov 2006
Posts: 1,462
California
From what I understand, the "Estimated Taxes, Insurance & Assessments" section of the TRID disclosures is for disclosing property related costs only - like the title says, and to indicate whether or not they will be escrowed/impounded. Private Mortgage Insurance (PMI) would not be disclosed in this section, even if we are escrowing for the premiums, correct? The "Escrow Account" section on page #4 of the Closing Disclosure would also be for property related costs only, and would not include a disclosure of the PMI. Correct? Would the PMI be disclosed anywhere else other than the Payment Calculation section?

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#2296643 - 04/30/24 04:47 PM Re: Disclosing PMI on TRID Disclosures Tarhe
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 85,020
Galveston, TX
Correct on the ETIA.

In the escrow account Section:

Paragraph 38(l)(7)(i)(A)(4).
1. Estimated costs paid using escrow account funds. The amount the consumer will be required to pay into an escrow account with each periodic payment during the first year after consummation disclosed under § 1026.38(l)(7)(i)(A)(4) is equal to the sum of the amount of estimated escrow payments disclosed under § 1026.38(c)(1) (as described in § 1026.37(c)(2)(iii)) and the amount the consumer will be required to pay into an escrow account to pay some or all of the mortgage insurance premiums disclosed under § 1026.38(c)(1) (as described in § 1026.37(c)(2)(ii)).
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#2296644 - 04/30/24 04:49 PM Re: Disclosing PMI on TRID Disclosures Tarhe
Tarhe Offline
Diamond Poster
Joined: Nov 2006
Posts: 1,462
California
Thank you very much - and for the citation!

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