Completing Loan Estimate and Closing Disclosure can be tricky but completing them for a construction loan can be a downright challenge. Construction loans are an area where the CFPB was slow to issue guidance which just added to the confusion. In July 2017, they issued a Final Rule that provided many substantive updates to TRID which ultimately cleared up a lot of questions surrounding construction loans. Compliance with these updates was mandatory October 1, 2018. Are you in compliance? Or, do you need a refresher? Let us get you on the right track!
What You Will Learn
- The Latest CFPB Updates & FAQs
- Appendix D in Plain English
- Calculating the Cash to Close Tables
- Sample Disclosures
- Construction Applications - One or Two Applications?
- How to Disclose Construction Holdbacks
- Answers to Your Questions & Much More!
Who Should Attend?
This webinar is designed for consumer real estate loan officers, loan processors, compliance and audit personnel.