[tclowes]

I have one more follow up to the webinar.

Can a Seller Credit decrease on the Closing Disclosure?? I searched the rule and the closest thing I could find was 1026.38(i)(7), which explains what to do if it differs. But it does not come out and say what the tolerance limit is. I would assume that it can decrease. BUT I do not assume when it comes to TRID!!! 🙂

[kowsley]

Seller credits are not subject to tolerance requirements. You disclose them as accurately as you can given the information that has been made available to the creditor. If the seller credit decreases, you should disclose the updated amount in the Closing Disclosure.

[Author]

Posts