Construction Loans & TRID

You may recall that the TRID rules and construction loans didn’t necessarily get off on the right foot with each other.  And, we still see that construction loans seem to be extra challenging for financial institutions. One such challenge is when you have a construction or permanent loan (one closing) where you will not have an escrow account in connection with that initial construction phase, but will set up an escrow account in connection with the permanent financing. 

How do you complete the disclosures on page four of the Closing Disclosure?

Diane explains more about TRID & construction loans in the video.


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