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Can My Settlement Charges Change?

http://videotap.wistia.com/medias/lua58dwa7a?embedType=async&videoFoam=true&videoWidth=640 Yes, if circumstances change, such as: a natural disaster damages the property or affects closing costs the title insurer providing the estimate goes out of business during underwriting new information on you or the transaction affecting settlement...

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Can Creditors Revise TRID Loan Estimates?

http://videotap.wistia.com/medias/9rsmd2ulbh?embedType=async&videoFoam=true&videoWidth=640 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...

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

http://videotap.wistia.com/medias/tahi5p8rew?embedType=async&videoFoam=true&videoWidth=640 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...

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Could My Loan Costs Exceed The Loan Estimate?

http://videotap.wistia.com/medias/qe030vywkh?embedType=async&videoFoam=true&videoWidth=640 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...

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What Will The TRID Loan Estimate Tell Me?

http://videotap.wistia.com/medias/wja8tf92uy?embedType=async&videoFoam=true&videoWidth=640 The Loan Estimate documents the essential facts and terms of an approved real estate loan. It includes: loan terms projected payments and loan costs cash and costs at closing time the services for which you CAN and CANNOT shop in relation to the...

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How Long Must Creditors Keep Real Estate Loan Records?

http://videotap.wistia.com/medias/us70yxr3py?embedType=async&videoFoam=true&videoWidth=640 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 FIVE years. If a creditor sells or...

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