When it comes to itemizing charges on the Loan Estimate, the TRID Guidelines indicate there is a difference in how you disclose charges that are absorbed by the bank versus charges that are offset by the bank. Your bank may even do both depending on the circumstances. You will want to know the difference between “absorbed” and “offset” charges because some are not required to be disclosed on the Loan Estimate.
Jerod explains more in the video.
- How to Complete the Loan Estimate Line-by-Line
- Changed Circumstances
- Dates, Times & Time Zones
- Sales Price & Estimated Property Values
- Shopping & Shopping Lists
- Fees & Charges – What, Where, When, Why & How?
- Calculating Cash to Close
- Your Questions, Plain English Answers & Much More!
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar, or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups, and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru.
Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports related!