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Can My Settlement Charges Change?
http://bucket.wistia.com/medias/5g7wiiag8n?embedType=async&videoFoam=true&videoWidth=640 Yes, if circumstances change, such as: a natural disaster damages the property or affects closing costs the title insurer providing the estimate goes out of business during...
Can Creditors Revise TRID Loan Estimates?
http://bucket.wistia.com/medias/hmmczd3v8t?embedType=async&videoFoam=true&videoWidth=640 Creditors are generally bound by the initial Loan Estimate. They are permitted to provide a revised Loan Estimate only under certain changed circumstances. These include...
What’s Refunded If My Loan Is Higher Than My Estimate?
http://bucket.wistia.com/medias/3f632asklg?embedType=async&videoFoam=true&videoWidth=640 If the amount you pay at closing exceeds the amounts disclosed on the Loan Estimate - beyond tolerance limits for each category - the creditor must REFUND the excess to you no...
Could My Loan Costs Exceed The Loan Estimate?
http://bucket.wistia.com/medias/dbf60z4vv0?embedType=async&videoFoam=true&videoWidth=640 Yes, within defined limits. Service charges for which YOU shop and select a provider may change; the creditor is NOT responsible for providers who are NOT on their written list....
What Will The TRID Loan Estimate Tell Me?
http://bucket.wistia.com/medias/wgjfsdklpn?embedType=async&videoFoam=true&videoWidth=640 The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes: loan terms projected payments and loan costs cash and costs at closing time...
How Long Must Creditors Keep Real Estate Loan Records?
http://bucket.wistia.com/medias/i0np6qwa2q?embedType=async&videoFoam=true&videoWidth=640 Under the TRID rule, creditors must retain Escrow Cancellation and Partial Payment Policy disclosures for two years; Loan Estimate records for three years after loan consummation...
What Is A ‘Business Day’ For Real Estate Loan Disclosures?
http://bucket.wistia.com/medias/8b6eypxv4y?embedType=async&videoFoam=true&videoWidth=640 “Business day” is defined slightly differently for Loan Estimates and Closing Disclosures. For Loan Estimates, each day on which a creditor’s offices are open to the public count...
Do Creditors Have To Approve TRID Loans In 3 Days?
http://bucket.wistia.com/medias/zsdupi9iyl?embedType=async&videoFoam=true&videoWidth=640 If your loan is approved, on the terms you requested the creditor is required to provide a Loan Estimate within 3 business days. If they determine that your application will not...
Can Creditors Collect Information Beyond The 6 Required Pieces?
http://bucket.wistia.com/medias/5hxxl7sggz?embedType=async&videoFoam=true&videoWidth=640 In addition to the required pieces: Name Income Social Security Number Property Address Estimated Property Value Mortgage Amount Sought a creditor may collect whatever additional...
What 6 Pieces of Information Make A TRID Loan Application?
http://bucket.wistia.com/medias/w2p519e7aj?embedType=async&videoFoam=true&videoWidth=640 Submitting these 6 pieces of information: Name Income Social Security Number Property Address Estimated Value of Property Mortgage Loan Amount sought constitutes a valid loan...
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