Calendar of Events

TRID for Construction Loans

11/02/2017, 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 and Kelly M. Owsley
Thursday, November2nd, 2017
10:00 am - 12:00 pm CT
 

Topics Covered:

  • 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)
    • 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

Register here