TRID sets forth different rounding requirements for items disclosed on the Loan Estimate and Closing Disclosure in 12 CFR §§ 1026.37(o)(4) & 1026.38(t)(4), respectively. In addition, they provide guidance on how to disclose numbers when components of such amounts include rounded numbers. Unfortunately, in order to understand these requirements, one must constantly look up quite a few cross-referenced sections of TRID, which is cumbersome. In order to make these rules as simple as possible, we have put together a ‘Rounding Summary’ document which summarizes the requirements, categorizes different parts of each documents under single rounding rules, and provides examples on how to calculate numbers which are comprised of rounded numbers.
