TRID audit on Construction was Calculated manually

Posted By: totallyconfused

TRID audit on Construction was Calculated manually - 01/26/17 07:58 PM

So for some time the lending software the bank used didn't support construction loans. The calculations on those loans was done manually using a calculator developed by an employee. This is calculations on loan estimate page 3 and closing disclosure page 5. I am trying to use APRWIN to verify the calculations but I am running into issues. Not sure who has gone through and validated the calculations on those sheets before but if you have can you give me some tips?
Posted By: bcompliance

Re: TRID audit on Construction was Calculated manually - 01/26/17 09:55 PM

I have not, but I think I attended a seminar and the instructor indicated that APRWIN would not be able to determine something on the LE and the CD. This may be the field you are refering to.
Posted By: totallyconfused

Re: TRID audit on Construction was Calculated manually - 01/27/17 02:44 PM

Well I am having an issue calculating even the APR using APRWIN for construction loans.

I can come close but one I am off by .487%
Posted By: bcompliance

Re: TRID audit on Construction was Calculated manually - 01/27/17 03:09 PM

I would take a closer look at the calculator the employee created and see if there is an error on their end.
Posted By: fmissle

Re: TRID audit on Construction was Calculated manually - 01/27/17 10:40 PM

Check Interest Reserve that could be wrong in the calculator or entered wrong in APRWin?
Posted By: totallyconfused

Re: TRID audit on Construction was Calculated manually - 02/09/17 06:40 PM

I know this has been asked before but is there a User Manual or help guide for APRWIN?
Posted By: rlcarey

Re: TRID audit on Construction was Calculated manually - 02/09/17 10:16 PM

Open APRWIN - at the top - click on Help - select contents