I have a question regarding TRID disclosures for Construction only loans.
Our product is a 12 month interest only loan with a balloon payment at the end. Would this require an AP table? I have tried to research online however I found very little information.
If an appraisal comes in low and causes the loan to have mortgage insurance, the borrowers challenge the appraisal and the results come back the same. The three day time frame for re-disclosing on a new LE to show the MI has passed and now the borrower wants to pay for MI upfront.
Is this a valid reason for a change of circumstance or is it now a cost to cure since the re-disclosures were not sent within three days of the appraisal received?
Under TRID rules, what disclosures and timing requirements apply if our bank agrees to modify or amend an existing home loan? Do different rules apply if the maturity date changes beyond (more than) the original?
Can we use a change in circumstances under TRID when escrow (settlement agent) fees change? Is that under the 10% tolerance rule?
I have a real estate loan that has past due county taxes.
When we disclose this on the loan estimate, should it be on taxes and other government fees or listed under other as past due taxes?
On a TRID loan, the LE numbers are rounded. If a cure has to be given, is it given from rounded number to closing number or from actual number to closing number? Can you cite the rule?
If there is no Mortgage insurance at all should it be disclosed with a zero or a dash?
For the permanent phase of a construction to permanent loan, how would a voluntary escrow for taxes be disclosed on the LE and CD?
If a bank pulls a credit report on a home loan but absorbs the cost and doesn't charge the borrower, it used to be reported as POC by Lender. How does it get reported on the New Loan Estimate and/or Closing Disclosures?