Can My Settlement Charges Change?

by | Jun 24, 2015 | TRID

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 underwriting new information on you or the transaction affecting settlement is discovered. If...

Can Creditors Revise TRID Loan Estimates?

by | Jun 24, 2015 | TRID

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 circumstances that: a) increase settlement charges beyond the legal tolerance limits b) affect...

Could My Loan Costs Exceed The Loan Estimate?

by | Jun 24, 2015 | TRID

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. In addition, prepaid interest, property insurance premiums and escrow or reserve deposits...

What Will The TRID Loan Estimate Tell Me?

by | Jun 24, 2015 | TRID

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 the services for which you CAN and CANNOT shop in relation to the loan summary...