Posted By: mdog76
Earnest Deposit - 07/12/16 06:29 PM
We issued a LE and did not list the earnest deposit from the customer on it. The CD was also issued without it as well. Is this something that can be correct with a new CD? I'm not sure about this one.
Thank You.
Yes. A new CD can be issued for the closing to reflect the earnest money deposit.
Posted By: John Burnett
Re: Earnest Deposit - 07/13/16 12:07 PM
Originally Posted By PCBDebbie
Yes. A new CD can has to be issued for the closing to reflect the earnest money deposit.
Otherwise, Cash to Close will be incorrect or your borrower won't get credit at closing for the deposit.