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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule ARM Index Change prior to closing
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#2273100 - 07/20/22 03:11 PM ARM Index Change prior to closing
Love Cruising Offline
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Joined: Dec 2019
Posts: 250
I have an unusual situation, loan that is due to close, the index has changed but if I update my index the DTI goes over 43. The rate was locked and still has 20 days.Can I wait and change the rate after closing.

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TRID - TILA/RESPA Integrated Disclosures Rule
#2273107 - 07/20/22 03:51 PM Re: ARM Index Change prior to closing Love Cruising
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
If the rate was locked, was it locked at a discount or premium at that time or at the then current index plus margin?

Also, I assume you mean you are using the legacy general QM category? I guess I am confused how a updated index rate causes this?
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