Know How to Formulate a System to Complete the Disclosures for Construction Lending.
TILA-RESPA Integrated Disclosure (TRID) has changed the mortgage landscape in many unexpected ways. One of those ways has been with construction and construction-to-permanent loans. Because of a lack of clarity under the rule about how such loans should be disclosed, many lenders have ceased offering the product.
Join Richard Horn in this On-Demand webinar to get answers to your questions on how to disclose construction loans under TRID. Learn how you can disclose construction-to-permanent transactions in a single combined disclosure and in separate disclosures. Horn will also address important parts of the forms such as the Product, Purpose, Loan Terms, Projected Payments, and other TRID calculations.
How to disclose construction-to-permanent transactions on separate and combined disclosures
How to disclose the purpose
How to calculate the P&I payment for the construction phase
How to calculate the Total Interest Percentage and Total of Payments
How to disclose the Loan Terms, Projected Payments, and the AIR and AP tables
RICHARD HORN led the final TRID rule (the TILA-RESPA integrated disclosures) while a Senior Counsel & Special Advisor in the Consumer Financial Protection Bureau's Office of Regulations. He also led the CFPB's design and consumer testing of the integrated disclosures. Richard is one of the forem...
Disclaimer: The content herein does not represent any association between CFPB and Eli Financial LLC. CFPB neither endorses any product of Eli Financial LLC nor warrants accuracy of the content hereto.