A Loan Estimate shows an origination charge of $2,000. At closing, the actual origination charge is $2,150. Assuming no valid changed circumstances, what is the maximum total that can be charged without violating TRID tolerance rules?
Correct Answer
C) $2,000 - origination charges have zero tolerance
Origination charges are subject to zero tolerance under TRID rules in 12 CFR 1026.19(e)(3)(i). The creditor cannot charge more than the amount disclosed on the Loan Estimate unless there is a valid changed circumstance that permits a revised disclosure.
Why This Is the Correct Answer
Origination charges are subject to zero tolerance under TRID rules in 12 CFR 1026.19(e)(3)(i). The creditor cannot charge more than the amount disclosed on the Loan Estimate unless there is a valid changed circumstance that permits a revised disclosure.
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