We don’t charge the consumer for credit reporting or charge less than actual costs. Do we have to be concerned about TRID LE disclosure?

Posted by Credit Technologies, Inc.
On May 26, 2017
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YES, TRID Loan Estimate requirements cover all loan costs associated with the transaction without reference to which particular party might pay for the service. See 12 CFR 1026.37(f). Even though another party may ultimately pay for a particular fee, you’re required to show the consumer the actual costs of the transaction for shopping/comparison purposes and to illustrate the value of any credit.

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Can we disclose an estimate that is higher than expected costs to ensure we do not overcharge the buyer?

What are the differences between the Upgrade and Inclusive Methods and how do I choose the method that is best for our borrowers?

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