4/6/16 12:20 PM

TRID Tip of the week

Did you know that some of the issues we are seeing on the secondary market can be fixed at closing?

Investors are rejecting loans if the word "Title - " doesn't precede all title fees on the closing disclosure form.  (i.e. “Title – Settlement Agent Fee”).  There have even been some issues with not having a space in between “Title” and the hyphen.  The regulatory text has a space in the “Title -“.

Double checking the closing disclosure form at closing could help alleviate this issue post closing.

Topics: Regulatory and Compliance

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