This new document is being provided pursuant to the following portion of TRID:
“If a creditor or other person provides a consumer with a written estimate of terms or costs specific to that consumer before the consumer receives the [LE], the creditor or such person shall clearly and conspicuously state at the top of the front of the first page of the estimate in a font size that is no smaller than 12-point font: ‘Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.’ The written estimate of terms or costs may not be made with headings, content, and format substantially similar to form H-24 or H-25 of appendix H to this part.” (12 CFR § 1026.19[e][ii])
Our Pre-Application Estimate includes the caption required by TRID, as well as sections outlining estimated terms, proposed payments, anticipated loan fees, a loan summary, and ARM information (when applicable). This document will print under the following conditions:
- Document Package Type = Pre-Disclosure
- HELOC = No
- Integrated Disclosure Loan Indicator = Yes
- Print Pre-Application Estimate = Yes
This document is not required under TRID. Clients who would prefer not to provide this document may request the ConformX System Default Document Setting “Print Pre-Application Estimate” be set to “No”, to stop the document from printing.
This document will be available on ConformX text environments immediately. If you have any questions or concerns about this new document, or wish to have it suppressed, please contact Client Support at 1.800.497.3584.
July 31, 2015