TRID: Closing Disclosure: Escrow Waiver Fee

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    On page 4 of the Closing Disclosure under the “Escrow Account” section if the transaction does not contain an escrow feature you mark the second box “will not have an escrow account…”

    There is a table directly below this paragraph with the title of “No Escrow” and contains two columns “Estimated Property Cost over Year 1” and “Escrow Waiver Fee”. If you do NOT charge an escrow waiver fee how are you to complete the two columns to the right of “Escrow Waiver Fee?” In testing LaserPro it is leaving both of those columns blank. I’ve read through both the regulation and Official Interpretation for 12 CFR 1026.38(l)(7)(B)(2) and I do not find any particular instructions on how to complete the columns in question if you do not have an Escrow Waiver Fee.

    Please advise.


    jGo9- It sounds like LaserPro has done it correctly. If there is no escrow waiver fee that portion of the disclosure should be left blank. You can find this on page 1118 of the preamble.

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