Finance
A Kansas borrower receives a Loan Estimate showing total closing costs of $8,500. At closing, the Closing Disclosure shows $9,300 in closing costs. The lender must:
AAbsorb the difference as a lender credit
BProvide an explanation for increases above TRID tolerance limits, and some fees are subject to zero-tolerance rules✓ Correct
CObtain borrower consent to proceed
DReport the discrepancy to HUD
Explanation
TRID rules limit how much certain closing cost categories can increase from the Loan Estimate to the Closing Disclosure. Zero-tolerance fees cannot increase at all; others have limited tolerance for increases.
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