Question: What do you use for the Sale Price if the customer is taking out one loan to buy two different pieces of property that will both secure the loan?
Answer: All properties that secure the loan and are being purchased as part of the transaction should be included in the total Sale Price disclosed.
Join us for the TRID For Beginners Webinar on July 11, 2019. We will answer all the questions submitted during the live webinar, in writing.
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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!