If you provide a single shopping list for all your TRID applications, you might find yourself in violation. This is something we commonly see when conducting lending compliance reviews. The shopping list is supposed to be tailored to each individual application/transaction. It should reflect providers that can provide the service listed. While these aren’t likely to change much for transactions in your lending area, problems arise with transactions outside your lending area. For example, if a customer applies to purchase a home in another state, your shopping list should include providers in that state.
Jerod explains more in the video.
Video Highlights:
Published
2023/11/30