Blog
Blog
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…
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…
Could My Loan Costs Exceed The Loan Estimate?
Yes, within defined limits…
What Will The TRID Loan Estimate Tell Me?
The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes…
How Long Must Creditors Keep Real Estate Loan Records?
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 and Closing Disclosures for…
What Is A ‘Business Day’ For Real Estate Loan Disclosures?
“Business day” is defined slightly differently for Loan Estimates and Closing Disclosures…
Do Creditors Have To Approve TRID Loans In 3 Days?
If your loan is approved, on the terms you requested the creditor is required to provide a Loan Estimate within 3 business days…
Can Creditors Collect Information Beyond The 6 Required Pieces?
In addition to the required pieces…
What 6 Pieces of Information Make A TRID Loan Application?
Submitting these 6 pieces of information…
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…
