When it comes to disclosing the lender’s and owner’s title insurance on the Loan Estimate, it can get tricky. The reason is that TRID requires you to disclose it in a specific way (aka TRID math) when there is a discount for policies issued simultaneously. TRID has been around for quite some time now and we still see financial institutions getting tripped up in this area.
Jerod explains more in the video.
Video Highlights:
- If there is no discount associated with purchasing both policies, then the calculation is simple.
- If there is a discount when buying both policies at the same time, there is a special way to disclose this.
- If this “TRID math” calculation is not used, it is a violation.
Published
2023/03/01
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!
