Posted By: larmanini

Montana - 03/05/19 11:01 PM

I am trying to find where in the statutes where it states that we cannot list the realtors commission on the borrower's closing disclosure. Any ideas?

My understanding is that we can list the commissions.
Posted By: rlcarey

Re: Montana - 03/05/19 11:15 PM

In Montana? TRID requires it to be shown. State law cannot trump Federal law.
Posted By: larmanini

Re: Montana - 03/05/19 11:44 PM

That is what I thought but I have people second guessing me.
Posted By: rlcarey

Re: Montana - 03/06/19 12:01 AM

Just show them this:

1026.38(g)(4) Other.

4. Real estate commissions. The amount of real estate commissions pursuant to ยง 1026.38(g)(4) must be the total amount paid to any real estate brokerage as a commission, regardless of the identity of the party holding any earnest money deposit. Additional charges made by real estate brokerages or agents to the seller or consumer are itemized separately as additional items for services rendered, with a description of the service and an identification of the person ultimately receiving the payment.

And while 1026.38(t)(5)(v) allows separation of some seller and borrower information, the borrower must get everything that is required to be disclosed on Page 2 of the CD.