When pest treatment is required and if the seller is responsible for that cost, does that still constitute redisclosure of loan estimate?
We are moving to offer higher rates and eliminate origination fees to include broker fees when a broker is involved. Instead we would pay the broker upfront, and hopefully collect that fee in interest over the next several years. Do we have to disclose the broker fee as a lender paid item POC, or do we eliminate it all together?
I have been told the recent $500,000 threshold increase for real estate evaluations applies ONLY to commercial property. Is that correct?
I have an investor that is wanting me to issue a final closing disclosure (CloD) with the sellers fees. This would be fine, but they are asking for it to be on my buyers closing disclosure. We normally issue a final CLoD for the buyer and get a CLoD from escrow for the seller. Is my investor correct in asking for the fees to be on my buyers CLoD (fees include Realtor commissions, Owners Title, Transfer Tax, Realtor processing fees, etc.)?
Based on the TRID amendment effective 10/1/18, if a consumer decides to increase a loan amount after the initial loan estimate has been issued, is a revised LE required to comply with the new tolerance for Total of Payments disclosure?