Answer:
An early TIL cannot trigger reimbursement if a final TIL is provided. Judge the accuracy of the final TIL and reimburse if it is out of tolerance.
First published on BankersOnline.com 7/1/13
Calculating Reimbursement for Tolerance Violation
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Question:
If a Real Estate Loan gets closed and there is a tolerance violation of more than 0.125% from the most recent early TIL and the Final TIL; How do I calculate the reimbursement? This is the first time this has happened and I have made sure that there is no pattern of practice in this case.
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