- Business Rules
Would the amount of the Total Interest Percentage (TIP) be divided by the principal amount or the note amount? And if it is divided by the note amount, would the base or the note amount be included in the VA funding fee if financed? Same question if it was financed with private mortgage insurance?The TIP is based upon the note amount.
CFPB announcement regarding the delay of TRID
The full statement from CFPB Director Richard Cordray can be viewed here