When TRID finally went into effect in October, there were a few changes that we were able to predict and accommodate. Unfortunately, there were many more that had to be played out in the lending world before PAR could address them. Fortunately, I speak legalese. On Jan. The mechanics of the contingency are still the same; the buyer will have to apply for a mortgage and get approval of that application.
However due to the change in language, what was previously Paragraph 8 G β which addressed what happens if the seller does not receive a copy of the approval document β was moved up to Paragraph 8 B. You can familiarize yourself with this and other changes to the forms library before Jan. Vote count: 0. No votes so far! Be the first to rate this post. Log in to join the conversation. A home inspection can be a helpful tool.
Stay up-to-date by subscribing to JustListed. PAR: Well what are they providing? PAR: Well what do the lenders call them? It varies. Form ASR. How useful was this post? Click on a star to rate it! Learn how to become a member. Have a Question?
Contact Us.
