Calendar of Events

TRID for Construction Loans

11/20/2018, 10:00 AM to Noon

No location provided

Amy Davis adavis@msbankers.com 601-948-6366

Description:
TRID for Construction Loans


Presented by Jack Holzknecht
Tuesday, November 20th, 2018

10:00 am - 12:00 pm CT

COVERED TOPICS
  • When and why construction loans are covered by the TRID rules;
  • How to complete the loan estimate and closing disclosure for:
    • Construction only loans
    • Combined construction/permanent loans (both one-close and two-close); and
    • Permanent financing that replaces construction financing.
  • How to properly estimate interest on a construction loan;
  • The impact of a construction only loan versus a lot purchase/construction loan;
  • When to disclose "Sales Price," "Estimated Value," or "Appraised Value;"
  • How to determine the proper "Purpose" of the loan;
  • How to properly describe the "Product;"
  • The proper disclosure of projected payments;
  • How to properly disclose inspection fees;
  • How to disclose undisbursed construction funds;
    • Completing the "Cash to Close”, “Optional Alternative Cash to Close" and "Cash to Close" in the Borrower's Summary of the Closing Disclosure;
    • When the AP Table is needed and how to properly complete it;
    • How to complete the "In 5 years" disclosure for short-term construction loans;
    • When to include the "60 days prior to consummation" disclosure; and
    • Much more.

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