Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#2274203 - 08/16/22 04:46 AM Seller disclosure
theloanbug Offline
Platinum Poster
Joined: Sep 2005
Posts: 746
I know this is old but what is everyone doing for seller closing disclosures ? Seller needs one. Compliance one users. Lender is the settlement agent. Always issue closing disclosure with both buyer/seller fees on it.

Return to Top
#2274209 - 08/16/22 11:22 AM Re: Seller disclosure theloanbug
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,229
Galveston, TX
If you would write your questions in full sentences it would help. What is your question? If you are closing your own purchase loans, yes you need to deliver a closing disclosure to the seller. Either a copy of what goes to the borrower, a redacted copy as allowed under 1026.38(t), or H-25(I) Mortgage Loan Transaction Closing Disclosure - Modification to Closing Disclosure for Disclosure Provided to Seller - Model Form.

Most banks do not close their own purchase transactions due to the required IRS reporting requirements.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top