Tag: lender credits

Use of Lender Credits

Question: I have a $700k purchase with $36,000 in closing costs & prepaids including points. The seller is providing $36,000 to cover those costs. I want to add a $15,000 lender credit on top of that because they have a $60,000 stucco issue, I am trying to help them with, but I am being told […]

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CFPB FAQ for TILA-RESPA Disclosures (TRID) – Dated February 26, 2020

Written by: Lloyd Rutherford, Staff Writer The rules of disclosure can be very tricky.  This recent update of FAQs addresses some of the issues lenders have struggled with and is a must read for anyone originating or creating disclosures. Rule Synopsis: The Consumer Financial Protection Bureau issues an FAQ document for the industry that covers […]

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