Tag: Revised LE

Compliance – TRID: If we mistakenly provided the wrong mortgage insurance amount in the projected payments section of the Loan Estimate, how is this corrected?

Answer: Most investors care about the CD. The projected payments does carry statutory damages; however informal guidance from the Bureau provided that most items can be corrected via the CD. In this case, unless FHA or USDA, there are multiple factors that can influence the cost of the MI beyond the 6 points of data. […]

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