- Business Rules
Where are Seller Credits disclosed?To the extent known by lender, disclose as Seller Credits under Calculating Cash to Close. Seller Credits are the total amount the seller will pay for total loan costs as determined by §1026.37(f)(4) and total other costs as determined by §1026.37(g)(5), to the extent known, and disclosed as a negative number. Seller Credits can be defined as:
- Seller Credits = sum of non-specific seller credits and specific seller credits, to the extent known, disclosed as a negative number.
Citation(s): §1026.37(h)(1)(vi) and Commentary ¶37(h)(1)(vi)
CFPB announcement regarding the delay of TRID
The full statement from CFPB Director Richard Cordray can be viewed here