Posted by snoopdogMs on 2/28/08 12:46pm
Msg #237535

Single Refi-----2 different TILs

I'm sure this is one of those( not my concern) questions, but this is for my own curiosity. I closed a single refi last evening and there were 2 TILs in the package. One TIL(lender) had the final payoff lower and had the payments reflecting the PMI being dropped at the 80% mark. The other had the final payoff being higher at about 19K and did not show the payments dropping the PMI. Borrower did not want to sign both. Called the title co. and was told that the lender TIL was correct but have them sign the other. I talked with the title company this morning and was told the loan officer asked who showed the borrower the difference. What is going on here?

Reply by JenCA on 2/28/08 12:57pm
Msg #237537

I had a similar situation last night...but LO informed borrower not to sign the 2nd TIL with the higher (incorrect) amount. I was sweating bullets because wasnt sure if I could should or had to explain or even know why there was a difference in amounts...how have those of you with a vast amount of experience dealt with this situation in the past... because I am sure that many if not all have. TIA

Reply by SReis on 2/28/08 1:24pm
Msg #237544

One may have been an EST TIL

Clue would have been if the figures had a small "e" next to them.

Reply by Becca_FL on 2/28/08 1:43pm
Msg #237549

The final TIL is in the lender package. You could possibly have 2, 3 even 4 or more TILs in the package depending on how the broker disclosed changes in loan term throughout the loan process. The additional TILs are included in the broker disclosures and are for the broker's file so they can prove that changes were disclosed to borrowers during the loan process.