Trid Fee Compliance Explained

Summary

Under TRID rules, a 0.75% commission fee, categorized as a non-lender-required service, can be passed to the borrower if it wasnt disclosed initially. Proper documentation and transparency are crucial, especially if commission split information is received after the Loan Estimate (LE) is signed. Compliance with TRID rules requires ensuring all fees are properly documented and disclosed to the borrower.

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One critical piece to be aware of is that we didn't receive the information for the breakout of commission splits till after the LE was signed.
It's important to document that the commission split information was received after the Loan Estimate (LE) was signed. Since the *.*% commission is a non-lender-required service, it can be passed to the borrower, ensuring proper documentation and transparency to remain compliant with TRID rules.