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#482616 - 01/12/06 08:46 PM Odd Days Interest
Deacon G Offline
100 Club
Joined: Sep 2004
Posts: 106
East
Whatis the potential penalty if odd days interest is incorrect on a HUD - 1 Settlement Statement, due to the closing/funding date changing?

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Lending Compliance
#482617 - 01/13/06 01:25 PM Re: Odd Days Interest
OldSchoolBanker Offline
Platinum Poster
Joined: May 2005
Posts: 662
FL
How does it impact your APR and tolerance? Are you talking 1 day or 10 days?
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#482618 - 01/13/06 01:36 PM Re: Odd Days Interest
Deacon G Offline
100 Club
Joined: Sep 2004
Posts: 106
East
It could impact the APR and tolerance if there are a couple of days difference. However, thats not an issue as Z allows for this kind of scenario. My question is would this cause an issue from a RESPA perspective?

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