Breaking down the TRID fix: Rate lock revised LEs are one and done

first_img continue reading » 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr How’s 2018 treating you so far, credit union compliance world?My year started out right. Last week, I contacted the CFPB through their Regulatory Inquiry website and got a call back same day. That’s a response time that the NAFCU Regulatory Compliance Team can appreciate. And the informal answer from the Bureau: you don’t have to do any extra work unless you want to. So I’m batting a thousand so far.The Question: Rate Lock Revisions and the 2013 PreambleSubsection 1026.19(e)(3)(iv) describes when a revised Loan Estimate can be used to reset tolerances. The subsection contains five paragraphs describing five sets of circumstances where a revised Loan Estimate can be issued and used to reset tolerance for good faith purposes. Four of these circumstances are permissive, meaning that a revised Loan Estimate can, but is not required to be, issued. In other words, if the credit union decides that reissuing the Loan Estimate is not worth the cost, it can chose not to, though it won’t be able to reset tolerances due to the event.One of the circumstances is not voluntary, it’s required. That’s paragraph 19(e)(3)(iv)(D). If the rate was not locked when the initial Loan Estimate was provided, and the applicant locks in the rate, a revised Loan Estimate is mandatory. The language of this paragraph is quite specific:last_img read more


first_imgDONEGAL SCHOOLBOYS LEAGUE UPDATERESULTS:East Division: Under-12 LeagueCappry Rovers 6 v 1 Ballybofey UnitedUnder-12 Cup FinalDrumkeen United 2 v 0 Raphoe Town Under-16 LeagueConvoy Arsenal 2 v 0 Fintown HarpsLetterkenny Division:Under-12 Premier League .Dunfanaghy Youths 0 v 1 Bonagee United Under-14 Premier LeagueIllistrin United 5 v 0 Kilmacrennan CelticUnder-16 Premier LeagueBonagee United 0 v 0 Swilly Rovers Illistrin United 5 v 0 Dunfanaghy YouthsUnder-12 Reserve LeagueSwilly Ramblers 0 v 0 Dunfanaghy BluesNorthwest Division:Under-12sGweedore Celtic 2 v 1 Glenea UnitedUnder-14sGweedore United 0 v 5 Gweedore CelticSouth Division:Under-12 Cup Semi-FinalsSt. Catherines 1 v 2 Eany CelticDonegal/Killymard 1 v 1 Dunkineely Celtic (Dunkineely won 4-3 on pens.)Under-14 LeagueSt. Catherines 5 v 2 Drumbar UnitedDunkineely Celtic 7 v 0 Erne UnitedErne Celtic 2 v 4 Donegal TownFOOTBALL: DONEGAL SCHOOLBOYS LEAGUE RESULTS was last modified: February 10th, 2013 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:FOOTBALL: DONEGAL SCHOOLBOYS LEAGUE RESULTSlast_img read more