What Do Lenders Have To Tell You About Your Real Estate Loan?

  Federal “disclosure” forms define the information that creditor businesses MUST provide to consumers applying for real estate loans. As of Oct 1, 2015 lenders must provide TWO New “TRID” disclosure forms. for the most common kinds of real estate loans First,...

What Disclosures Are Used For Loans Not Covered By TRID?

  Creditors must continue to use the Good Faith Estimate, Truth-In-Lending Disclosure and the HUD-1 form for reverse mortgages, HELOCs, mobile home or other non-attached dwelling loans and others NOT covered by TRID. Housing assistance loans for low- and...

Can Creditors Revise TRID Loan Estimates?

  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)...

What’s Refunded If My Loan Is Higher Than My Estimate?

  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 later than 60 calendar days after loan consummation. For charges subject...

Could My Loan Costs Exceed The Loan Estimate?

  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...