By Jerry Bribiesca posted on May 28th 2015
By now everyone should be familiar with the rules that are effective October 3, 2015. Most lenders are waiting for their LOS system to release a test platform for the LE/CD Disclosures. However, have you thought of the other problems you may face? Do the words "10% baseline", "Simultaneous issue of Owner and Lender Title Policy", and "Filing Fee Calculator" make you nervous?
Once again, PPDocs is ahead of the game and working on calculators to ease these issues.
- 10% Tolerance Calculator - This calculator will help you track changed circumstances to alert you when you can "reset" your 10% baseline.
- TRID Title Insurance Calculator - In many states, a consumer is entitled to a discount on loan title insurance policy when an owner’s policy will be simultaneously issued. When both a loan and owner’s title insurance policies will be purchased (“simultaneous issuance”), the Rule requires the lender or settlement agent to disclose the title premiums on the Closing Disclosure in a way different than actually charged. Specifically, the Rule requires:
- Filing Fee Collaborating Calculator - With this tool, you will be able to ask the settlement agent for an exact fee for pages to record. We will then help you calculate how many pages are "recordable" and calculate an accurate fee.