TRID Rule Technical Correction?

In the pre-TRID rule environment, property taxes, homeowners association dues, condominium fees, and cooperative fees that a borrower was required to pay in advance to the applicable parties (and not into an escrow or impound account) were not subject to a specific percentage tolerance. However, based on a typographical error in the supplementary information to the TRID rule, such charges were referred to as charges that were subject to tolerances in both the TRID rule and pre-TRID rule worlds. While that was unfortunate, the bigger problem was the TRID rule itself.    Read the article……….


Tags assigned to this article:
TRID

Related Articles

Court ruling could increase liability of individual condo, co-op board members

New Yorkers may become even more reluctant to sit on the board of their condominium or co-op building. A decision

EPA cracks down on stormwater violations, draining municipal resources

The visit from environmental inspectors had the nerve-rattling effect of an IRS audit.  Three U.S. Environmental Protection Agency staffers and

MI Ct of App Rules That Deed Restrictions Recorded Outside of the Chain of Title are Unenforceable

In Petersen Financial LLC v Twin Creeks LLC, issued November 22, 2016 (Docket No. 329019) (Published Opinion) the Michigan Court