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Voluntary escrows and TRID

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Question: 
For the permanent phase of a construction to permanent loan, how would a voluntary escrow for taxes be disclosed on the LE and CD?
Answer: 

The disclosure requirements do not differentiate between a required and voluntary escrow. If you know at closing that the escrow account will be established, it will be disclosed in the same way regardless of whether it’s required or voluntary. An escrow account established after closing will not be shown on the Loan Estimate or Closing Disclosure.

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First published on 05/22/2016

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