Yearly Archives: 2021

These costs are paid to outside parties and YOU are free to shop and compare providers for a variety of services. These might include pest inspection, or  a survey to verify property lines or a range of Title-related services. Title services might include: a Lender’s title policy, which protects their legal interest in their loan collateral-…

These costs are paid to outside parties, not the lender, but you don’t get to choose them. They may include: appraisal, which puts a value on your property on the lender’s behalf a credit report on you fees to assess flood risk of your property, or for ongoing monitoring of flood zone changes related to…

Yes, if circumstances change, such as: a natural disaster damages the property or affects closing costs the title insurer providing the estimate goes out of business during underwriting new information on you or the transaction affecting settlement is discovered. If any of these events change 3rd-party charges beyond the 10% tolerance limit creditors may issue…

Yes, within defined limits. Service charges for which YOU shop and select a provider may change; the creditor is NOT responsible for providers who are NOT on their written list. In addition, prepaid interest, property insurance premiums and escrow or reserve deposits may change without legal tolerance limits. Charges for recording services, and 3rd-party services…