The interest rate sections of the Loan Estimate (Cx18565) and Spanish Loan Estimate (Cx18990) have been updated. Interest Rate (FI 1005) will now always print for the percent in the "Prepaid Interest ($___ per day for ___ days @ ___%)" area of the Loan Estimate instead of Calculated Initial Interest Rate (FI 46267). In addition, legacy interest rate field formatting has been removed.
Prepaid Interest Percent Field Swap
Previously Calculated Initial Interest Rate (FI 46267) printed in the "Prepaid Interest" row under the F. Prepaids section of the Loan Estimate. This was incorrect for temporary buydown loans when the lower, bought down rate was disclosed for the "Interest Rate" under Loan Terms on the first page. When Buydown Federal Disclosure Behavior (FI 51919) is set to "Disclose Rate Increase and Payment Increase", the bought down interest rate will continue to print on the first page for “Interest Rate” as Calculated Initial Interest Rate (FI 46267). Since the interest fee is always calculated based on the full interest rate, Interest Rate (FI 1005) will now always print for the "Prepaid Interest" percent in F. Prepaids.
Percent Field Formatting Clean Up
12 CFR § 1026.37(o)(4)(ii) requires percentage amounts for interest rates to be rounded to three decimal places and to drop trailing zeros. Document coding for percent display options that are no longer permitted under TRID 2.0 has been removed:
Global standard value field mappings in ConformX put into place for TRID 2.0 already set these two settings to the appropriate field options "Round to 3 Decimals" and "Drop All Trailing Zeros - (7.500% to 7.5%)". The obsolete field options are no longer supported in the Loan Estimate.
These changes are available for testing on Stage & Stage 2 servers and will take effect on August 12, 2025. If you have any questions or concerns, please contact Client Support at 1.800.497.3584.
COM-6220
DR-187449