Posted by Linda Juenger on 6/24/11 1:07pm
Msg #387567

I sure don't care for the new TIL. It was so easy to show

the borrower how many months they would be paying PMI. Now, you can't. Anyone else??

Reply by Bob_Chicago on 6/24/11 1:13pm
Msg #387568

Good news and bad news. It now clearly shows the rate

and payment including escrows.
Saves a lot of time of jumping through hoops to explain APR.
Question rarely even comes up , because actual rate is right there.

Reply by SouthernOK on 6/24/11 1:14pm
Msg #387569

I like it as a simple to read document for most BO's. n/m

Reply by Linda Juenger on 6/24/11 1:24pm
Msg #387572

Yes, I like that too Bob, but it doesn't show HOW many

months they pay PMI (if required). That is what I miss. I am often asked how long they have to pay that.

Reply by trnsa_IL on 6/24/11 6:34pm
Msg #387607

Re: Yes, I like that too Bob, but it doesn't show HOW many

Page 1 of the HUD/VA addendum (Loan app) last 2 boxes near the top right state the amount of PMI, if any, and the # of estimated payments. Hope this helps...

Tonya

Reply by MW/VA on 6/24/11 3:33pm
Msg #387586

I'm not comfortable with it being 2 pages now, with the sig.

on the 2nd page. I've been having the borrowers initial the 1st page.

Reply by CopperheadVA on 6/24/11 6:09pm
Msg #387603

Why is it 2 pgs? They could have easily made it 1 pg legal n/m

Reply by Linda Juenger on 6/24/11 6:21pm
Msg #387606

I agree copper. Did a wf last night and the affiliated

business disclosure is now 1 for each borrower instead of both signing one. how dumb and what a waste of paper.

Reply by MW/VA on 6/24/11 8:24pm
Msg #387617

I agree. I've had those too. Today I had a RTC that

was 2 pages, with signature on the 2nd page. How wierd is that? IMO things are getting worse instead of better.

Reply by Claudine Osborne on 6/24/11 10:39pm
Msg #387639

Re: I agree. I've had those too. Today I had a RTC that

I had 15 RTCs today..What a waste of paper & time for the Bos.