LOs and escrow people will tell you that after the loan is consummated (signed), a volley of Settlement Statements are exchanged between the lender and the EO to reconcile with each other to the penny.
So yes, they can be different. In fact, I should change my above statement to they usually are different mostly due to closing fees. If the fees are out of tolerance (above 10%) someone eats it, not the customer. It also becomes a compliance issue and that is handled differently by different institutions. |
