WHOLESALE
Compliance Manual
Instructions to Complete
the TRID Loan Estimate
Compliance Department
9/14/2015
©2015 Impac Mortgage Corp. NMLS #128231. www.nmlsconsumeraccess.org. Rates, fees and programs are subject
to change without notice. Other restrictions may apply. Information is intended solely for mortgage bankers, mortgage
brokers, financial institutions and correspondent lenders. Not intended for distribution to consumers, as defined by
Section 1026.2 of Regulation Z, which implements the Truth-In-Lending Act. Licensed by the Department of Business
Oversight, under the California Residential Mortgage Lending Act (License #4131083).
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Effective October 3, 2015
General Instructions
 The lender is required to make the information on the Loan Estimate clearly and conspicuously in
writing, in a form that the borrower may keep. The disclosures also shall be grouped together and
segregated from everything else.
 Unless otherwise permitted below, the disclosures shall be made in the same order, and positioned
relative to the master headings, headings, subheadings, labels, and similar designations in the same
manner, as shown in Loan Estimate template.
 If a master heading, heading, subheading, label, or similar designation contains the word ‘‘estimated’’
or a capital letter designation, that heading, label, or similar designation shall contain the word
‘‘estimated’’ and the applicable capital letter designation.
 Unless otherwise permitted below the Loan Estimate template must be used
 The Loan Estimate may be provided to the borrower in electronic form, subject to compliance with the
borrower consent and other applicable provisions of the Electronic Signatures in Global and National
Commerce Act (ESIGN Act)
Exceptions
 Unit-period. Wherever Loan Estimate uses ‘‘monthly’’ to describe the frequency of any payments or
uses ‘‘month’’ to describe the applicable unit-period, the lender will substitute the appropriate term to
reflect the fact that the transaction’s terms provide for other than monthly periodic payments, such as
bi-weekly or quarterly payments.
 Translation. The form may be translated into languages other than English, and lender may modify the
Loan Estimate template to the extent that translation prevents the headings, labels, designations, and
required disclosure items under this section from fitting in the space provided.
 Logo or slogan. The lender providing the form may use a logo for, and include a slogan with, the
information required by section (a)(3) in any font size or type, provided that such logo or slogan does
not cause the information required by section (a)(3) to exceed the space provided for that information.
If the lender does not use a logo for the information required by section (a)(3), the information will be
disclosed in a similar format as the Loan Estimate template.
Business card
 The lender may physically attach a business card over the information required to be disclosed by
section (a)(3).
Administrative information
 The lender may insert at the bottom of each page under the disclosures required, any administrative
information, text, or codes that assist in identification of the form or the information disclosed on the
form, provided that the space provided in the Loan Estimate template is not altered.
Rounding
 Generally all amounts on the Loan Estimate are rounded to next highest dollar amount and truncated
with the exception of the loan amount which not rounded however does not show cents, and the
principal and Interest payments, prepaid interest, escrow impounds which show the show exact
amounts with cents.
 Percentage amounts may not be rounded and should be shown up to two or three decimals, as
needed, except where noted. If a percentage amount is a whole number, show the whole number only
with no decimals
Consummation
 Occurs when the borrower becomes contractually obligated to the lender on the loan, not, for
example, when the borrower becomes contractually obligated to a seller on a real estate transaction.
 The point in time when a borrower becomes contractually obligated to the lender on the loan
depends on applicable State law.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Loan Estimate
Page 1
General Information Section
Instructions to complete the General Information section on the top of Page 1
Field ID
(a)(1)
(a)(2)
(a)(3)
Name of Field
Loan Estimate
Save this Loan
Estimate to
compare with
your Closing
Disclosure
Bank Name
(a)(4)
(a)(5)
DATE ISSUED
APPLICANTS
(a)(6)
(a)(7)
PROPERTY
SALE PRICE
OR
EST. PROP.
VALUE
Requirement
Form must be titled “Loan Estimate.” This is HARDCODED on the form.
Form Purpose must state exactly this phrase. “Save this Loan Estimate to compare with your
Closing Disclosure.” This is HARDCODED on the form.
Enter the name and address of the Lender.
Wholesale Loans:

Do NOT enter the brokers name and address on the LE.

If the broker does not reasonably know at the time the Loan Estimate is provided to
the borrower who the lender will be, then this field may be left blank.

If the broker knows the borrower’s application will be submitted to the lender, then
Lender’s name is listed on the LE.

If the lender reviews the LE BEFORE the broker provides a copy to the borrower, then
the lender’s name is listed on the LE

If the broker submits the borrower’s application to more than one lender, then this
field may be left blank.
Enter the date the disclosures are mailed or delivered to the borrower by the Lender
Enter the name and mailing address of the borrower(s) applying for the credit.
Use each Borrower’s name and mailing address if there are multiple Borrowers. An additional
page may be added to the Loan Estimate if the space provided is insufficient to list all of the
Borrowers.
Enter the property address, which MUST include the zip code of the property. If the property
address is unavailable, enter a description of the property(i.e. lot number) and ALWAYS
include a zip code.
Personal property such as furniture or appliances that also secures the loan may be, but is not
required to be included as Property. An additional page may not be appended to the Loan
Estimate to disclose a description of personal property
Depending on the transaction, this field will ask for the Sales Price or the Estimated Property
Value.

Purchase Money Loans: Enter the contract sale price of the property identified. Property.
If personal property is included in the Sale Price of the Property, use that price
without any reduction for the appraised or estimated value of the personal
property.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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
(a)(8)
LOAN TERM
(a)(9)
PURPOSE
(a)(10)
PRODUCT
Refinance Loans: Enter the estimated value of the property identified.
Enter the full term of the loan stated in years or months, or both, as applicable.
Describe the Loan Term as “years” when the Loan Term is in whole years. For example “1 year”
or “30 years.” For a Loan Term that is more than 24 months but is not whole years, describe
using years and months with the abbreviations “yr.” and “mo.,” respectively. For example, a
loan term of 185 months is disclosed as “15 yr., 5 mos.” For a Loan Term that is less than 24
months and not whole years, use months only with the abbreviation “mo.” For example, “6
mo.” or “16 mo.
Select one from the following:

Purchase

Refinance

Construction

Home Equity Loan
The description of the loan features that may change the periodic payment. Select from the
following:

Interest Only: if one or more payments may be applied only to accrued interest
Description of Loan Product: Select from the following:

Adjustable Rate: if the interest rate may increase after consummation

Fixed Rate
The description of the loan feature must precede the description of the loan product. If the
transaction has more than one of the loan features, the Lender shall disclose only the first
applicable feature in the order the features are listed above. The descriptions must each be
preceded by the duration of any introductory rate or payment period, and the first adjustment
period, as applicable.
Examples:

Fixed Rate

5 Year Interest Only

5 Year Interest Only, 5/3 Adjustable Rate
When there is no introductory period for an Adjustable Rate, disclose “0.” For example:

a product with no introductory rate that adjusts every year after consummation is a
0/1 Adjustable Rate.
When the time periods disclosed in are not in whole years, disclose the applicable fraction of a
year by use of decimals rounded to two places. For time periods of 24 months or less, disclose
the number of months with the abbreviation “mo.” For example:

An Adjustable Rate Product with an introductory interest rate for 31 months that
adjusts every year thereafter is a 2.58/1 Adjustable Rate.

An Adjustable Rate Product with an introductory interest rate for 18 months that
adjusts every 18 months thereafter is an 18mo./18mo. Adjustable Rate.

a product with an introductory rate that is fixed for the first five years and
adjusts every three years starting in year 6 is a 5/3 Adjustable Rate.
(a)(11)
LOAN TYPE
Enter the type of loan offered using one of the following terms:

Conventional

FHA

VA

Other (provide brief description). Example USDA
(a)(12)
LOAN ID #
Enter the Loan Number of the Lender.
Wholesale Loans:

Do NOT enter the brokers Loan Number on the LE.

If the broker does not reasonably know at the time the Loan Estimate is provided to
the borrower who the lender, then this field may be left blank.

If the broker knows the borrower’s application will be submitted to the lender, then
Lender’s name is listed on the LE.

If the lender reviews the LE BEFORE the broker provides a copy to the borrower, then
the lender’s name is listed on the LE

If the broker submits the borrower’s application to more than one lender, then this
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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(a)(13)
RATE LOCK
field may be left blank.
Identify if the interest rate is locked or not.
If “Yes” - Enter Yes and the date and time (including the applicable time zone) when the rate
lock period ends, include a specific statement with the expiration of other closing costs.
Example
Yes 8/31/14 at 5:00p.pm. PDT.
Before closing, your interest rate, points, and lender credits can change unless you lock the
interest rate. All other estimated closing costs expire on 8/17/2014 at 5:00 p.m. PDT
If “No” - Enter No and include a specific statement with the expiration of other closing costs. .
Example:
No
Before closing, your interest rate, points, and lender credits can change unless you lock the
interest rate. All other estimated closing costs expire on 8/17/2014 at 5:00 p.m. PDT
Note: time zone is determined by the lender. So if the lender is located in PDT and the
property is in EDT the lender may choose PDT. IMC/CCM will enter the time the lock desk
closed for the rate lock expiration, and use 5:00PM PDT for the time when all other estimated
closing costs expire.
Loan Terms Section
Instructions to complete the Loan Terms section on Page 1
Field ID
(b)(1)
Name of Field
Loan Amount
(b)(8)


Requirement
Enter the loan amount. Do not round and do not show cents
Enter a “NO” to indicate that the loan amount will not increase after consummation,
under the heading “Can this amount increase after closing?”
Consummation is the date the Note/Security Instrument is signed by the borrower
(b)(2)
Interest Rate
(b)(8)
Timing
Note: a “YES” is used for example on Negative Amortization loans. Since IMC does not make
or purchase Neg. Am. Loans, this document is not addressing a “Yes” response.
Fixed Rate: Enter the interest rate that will be applicable at the time of consummation
followed by a “NO” indicating the amount will not increase after consummation.
If the interest rate is a whole number truncate the decimal point. Do not round. Examples
4.00% = 4%
4.5% =4.50%
Maximum is 3 decimal places
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Consummation is the date the Note/Security Instrument is signed by the borrower
IO ARM:

Enter the interest rate that will be applicable at the time of consummation
If the interest rate at consummation is not known, then enter the fully-indexed rate
(index value + margin at the time of consummation)

Enter a “YES” Enter a “YES” to reflect the interest rate may increase after consummation

Enter the frequency of interest rate adjustments

Enter the date when the interest rate may first adjust

Enter the maximum interest rate, truncated, and the first date when the interest rate can
reach the maximum interest rate

Enter statement “See AP Table on Page 2 for details”
The dates disclosed is the year in which the event occurs, counting from the date that interest
for the first scheduled periodic payment begins to accrue after consummation.
(b)(3) &
Monthly Principal &
Interest
(b)(6)
Can this amount
increase after
closing?
(b)(8)
Timing
Fixed Rate:

Enter the initial monthly principal and interest payment (P&I), include cents

Enter a “No” to reflect the P&I payment will not adjust

Verify the statement “See Projected Payments below for your Estimated Total Monthly
Payment” appears. (HARDCODED)
IO ARM:

Enter the initial monthly P&I payment, include cents
If the interest rate at consummation is not known, then the amount disclosed is
calculated using the fully-indexed rate (index value + margin at the time of
consummation).

Enter a “YES” to reflect the P&I payment will adjust

Enter the frequency the P&I payment will adjust and the due date of the first adjustment

Enter the maximum possible P&I payment, rounded to the nearest whole dollar, and the
date when the P&I payment may first equal the maximum P&I payment

Enter whether the payment includes interest only and for how long

Enter statement “See AP Table on Page 2 for details”
(b)(4)
(b)(7)
Prepayment
Penalty
(b)(8)
Does this loan have
these features?
The dates disclosed is the year in which the event occurs, counting from the date that interest
for the first scheduled periodic payment begins to accrue after consummation.

Enter “YES” or “NO” if there is a prepayment penalty.
If “Yes”

Enter the maximum amount of the prepayment penalty and the year the penalty ends,
rounded to the nearest whole dollar
Timing
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Thee date disclosed is the year in which the event occurs, counting from the date of
consummation.
(b)(5)
(b)(7)
(b)(8)
Balloon Payment
Prepayment Penalty means a charge imposed for paying all or part of a transaction’s principal
before the date on which the principal is due, other than a waived, bona fide third-party
charge that the lender imposes if the borrower prepays all of the transaction’s principal sooner
than 36 months after consummation.

Enter “NO” if there is a balloon payment
Does this loan have
these features?
Balloon Payment’’ means a payment that is more than two times a regular periodic payment..
IMC DOES NOT MAKE OR PURCHSE BALLOON LOANS
Projected Payment Section
Instructions to complete the Projected Payments section on Page 1
The Projected Payments table shows estimates of the periodic payments that the borrower will make over the
life of the loan. The table provides an itemization of each separate P&I payment or range of P&I payments,
together with an estimate of taxes, insurance, and assessments and the payments to be made with escrow
account funds. If any of the triggering events listed below may occur during the life of the loan, add a column
to show the amount of the periodic payments after the triggering event.
 The principal and interest payment or range of such payments may change
 The anniversary of the due date of the periodic principal and interest payment or range of such payments
that immediately follows the occurrence of multiple payment ranges
 A scheduled balloon payment
 The lender must automatically terminate mortgage insurance or any functional equivalent under
applicable law.
o Even if the borrower may cancel the insurance earlier, use the date on which the lender must
automatically terminate Mortgage Insurance coverage under applicable law. (Note: a decline in
Mortgage Insurance premiums is not a triggering event.
o Generally, the automatic termination of Mortgage Insurance requires the corresponding periodic
payment to be shown in its own column, unless doing so would exceed the four-column maximum.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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o
Where the automatic termination of Mortgage Insurance need not be shown in its own column,
the column showing the next periodic payment or range of payments should show the periodic
payment amount without Mortgage Insurance
The table cannot disclose more than four (4) separate periodic payments or ranges of payments. If more than
four separate periodic payments, they should be disclosed as a single set in the last column except if there is
an automatic termination of MI.
o The automatic termination of mortgage insurance or any functional equivalent under applicable
law shall require disclosure of an additional separate periodic payment or range of payments only
if the total number of separate periodic payments or ranges of payments otherwise disclosed
pursuant to this paragraph (c)(1) does not exceed three.
Column headings: Use a sequence of whole years, counting from the due date of the initial payment.
Examples
o A two-column projected payments table might contain the headings “years 1-7” and “Years 8-30”
if a triggering event occurs 85 months after the due date of the initial Periodic Payment. If a
triggering event occurs in the middle of a year, use the next year in sequence as the heading for
the subsequent column.
o Assume a 30-year loan that requires Interest Only payments for the first 54 months from the due
date of the initial Periodic Payment. The column heading for the initial Periodic Payment would be
“Years 1-5” and the column heading for the subsequent Periodic Payment would be “Years 6-30”
because the triggering event occurs during the 5th year of the loan.
Field ID
(c)(2)
Name of Field
Payment
Calculation
(C)(3)
Principal & Interest
Mortgage
Insurance
Estimated Escrow
Amount can
increase over time
Estimate Total
Monthly Payment
Requirement
Show in one column the initial Periodic Payment (or range of payments if required) for each
of Principal & Interest, Mortgage Insurance, and Estimated Escrow. Depending on the
features of the loan, subsequent periodic payments also may be required to be disclosed. The
Periodic Payment is the regularly scheduled payment of Principal & Interest, Mortgage
Insurance, and Estimated Escrow.
Each separate periodic payment or range of payments shall be itemized as follows:
Fixed Rate:

Enter in each column the amount payable for the P&I payment include cents
o To calculate the initial Periodic Payment, use the interest rate that will apply at
closing, including any initial discounted or premium interest rate.

Enter in each column the maximum amount of the monthly mortgage insurance
premiums corresponding to the P&I payment, rounded to the nearest whole dollar
o Includes any mortgage guarantee similarly to MI (VA Funding Fee and USDA
Guarantee fee)
o If no MI, enter “0”

Enter in each column the amount payable into an escrow account to pay some or all of
the charges that make up the Estimated Total Monthly Payment, as applicable, rounded
to the nearest dollar, with a statement that the “Amount can increase over time”

Enter in each column the total of the P&I payment, the Mortgage Insurance Payment,
and any Estimated Escrow payment as the “Estimated Total Monthly Payment. If MI
and/or Escrow are disclosed round to the nearest whole dollar. If there is no MI or
Escrow disclosed include cents.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Interest Only

Enter the term “Interest Only,” if the loan is an IO

Follow Adjustable Rate instructions below
Adjustable Rate

Enter in each column the amount payable for the P&I payment, include cents
o If the interest rate at closing is not known, use the fully-indexed rate to
determine the initial Periodic Payment (index + margin)

Enter in each column the maximum and minimum P&I payments, rounded to the nearest
whole dollar
o The maximum amounts are determined by assuming that the interest rate in
effect throughout the loan term is the maximum possible interest rate
o The minimum amounts are determined by assuming that the interest rate in
effect throughout the loan term is the minimum possible rate

Enter in each column the maximum amount of the monthly mortgage insurance
premiums corresponding to the P&I payment, rounded to the nearest whole dollar
o Use the max/min interest rates that could apply such as through an interest
rate cap.
o Includes any mortgage guarantee similarly to MI (VA Funding Fee and USDA
Guarantee fee)
o If no MI, enter “0”

Enter in each column the amount payable into an escrow account to pay some or all of
the charges that make up the Estimated Total Monthly Payment, as applicable, rounded
to the nearest whole dollar. This is then followed by a statement that the “Amount can
increase over time”

Enter in each column the total of the P&I payment, the Mortgage Insurance Payment,
and any Estimated Escrow payment as the “Estimated Total Monthly Payment,” rounded
to the nearest whole dollar if the MI and Estimated Escrow amounts are disclosed. If no
MI or Escrow amount do not round.
Estimated Escrow includes mortgage-related obligations other than premiums or other
charges for any guarantee or insurance protecting the lender against borrower default or
other credit loss, expressed as a monthly amount, even if no escrow account for the payment
of some or any of such charges will be established.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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(c)(4)
Estimate Taxes,
Insurance &
Assessments
Mortgage-Related Obligations includes property taxes, fees and special assessments imposed
by condominium, cooperative, or HOA’s, ground rents, and leasehold payments; and charges
that are required by the lender, including

premiums or other charges for any guarantee or insurance protecting the lender
against borrower default or other credit loss

premiums or other charges for credit life, accident, health, or loss-of-income
insurance written in connection with the transaction

premiums or other charges for insurance against loss of or damage to property, or
against liability arising out of the ownership or use of property, written in
connection with a credit transaction
charges or premiums paid for debt cancellation or debt suspension coverage written in
connection with a credit transaction, whether or not the coverage is insurance under
applicable law

Enter the sum of the amounts listed as Mortgage Insurance and Estimated Escrow as
show above, rounded to the nearest whole dollar

Verify the statement “Amount can increase over time” appears

Check the applicable boxes to indicate if the estimated amount includes property taxes,
homeowners insurance, and/or Other. If other, provide a description.

Enter a “YES” or “NO” is the estimated amounts are escrowed (impounded) or not.

Verify the statement “See Section G on page 2 for escrowed property costs. You must
pay for other property costs separately” appears.
Fixed Rate Example
(c)(5)
Calculation of Taxes
and Insurance
Estimated property taxes and homeowner’s insurance are to reflect

The taxable assessed value of the real property securing the transaction after
consummation, including the value of any improvements on the property or to be
constructed on the property, if known, whether or not such construction will be financed
from the proceeds of the transaction, for property taxes; and

The replacement costs of the property during the initial year after the transaction
Costs at Closing Section
Instructions to complete the Costs at Closing section on Page 1
Field ID
(d)(1)
(d)(2)
Name of Field
Estimated Closing
Costs
Requirement
Estimated Closing Costs represents the total of all closing costs and lender credits as seen on
Page 2. This should carry over and auto populate.

Blank Space 1 -Enter the amount from “J. Total Closing Costs” disclosed on page 2

Blank Space 2 -Enter the amount disclosed in “D. Total Loan Costs (A+B+C)” on Page 2

Blank Space 3- Enter the amount disclosed in “I Total Other Costs (E+F+G+H)” on page 2

Blank Space 4 -Enter the amount of lender credits disclosed on page 2, “J. Total Closing
Costs Lender Credits”

Immediately followed by a statement “See Page 2 for details.”
All amounts are rounded to the nearest whole dollar.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Fixed Rate Example Purchase Transaction (no difference if adjustable)
Estimated Cash to
Close
Estimated Cash to Close represents the total cash the borrower needs to close the loan,
including total closing costs, down payment, seller credits etc.

Blank Space 5 – Enter the dollar amount of “Estimated Cash to Close” from the
“Calculating Cash to Close” section on page 2, rounded to the nearest whole dollar

Check the boxes as applicable

Verify the statement “Includes Closing Costs. See Calculating Cash to Close on page 2 for
details” appears.
Note: the check boxes “from and to borrower” will not appear on a purchase money
transaction.
Fixed Rate Example Purchase Transaction (no difference if adjustable)
Estimated Cash to
Close - Refinance
Optional alternative table for transactions without a seller.
For refinance transaction may alternatively disclose, using the label ‘‘Cash to Close’’:

Blank Space 5 – Enter the sum total of the Loan Amount minus the Total Closing Costs (J),
minus “Estimated Total Payoffs and Payments, rounded to the nearest whole dollar. This
should auto populate from Page 2 Calculating Cash to Close.

Check the box indicated whether the disclosed estimated amount is due from or to the
“Borrower”

Verify the statement “Includes Closing Costs. See Calculating Cash to Close on page 2 for
details” appears.
Fixed Rate Example Refinance Transaction (no difference if adjustable)
(e)
Web site reference
Verify the statement “Visit www.consumerfinance.gov/mortgage-estimate for general
information and tools” appears at the bottom of Page 2.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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LOAN ESTIMATE
PAGE 2
Closing Cost Details Section
Instructions to complete the Closing Cost Details section on Page 2
Loan costs sections represent all loan costs associated with the transaction.

A good faith itemization of fees listed as loan costs must be labeled using terminology that describes each item.

Points charged to reduce the interest rate must be the first item listed in the Origination Charges section.

All other fees/services must be listed in alphabetical order.

If State law requires additional disclosures, those additional disclosures must be on a document separate from, and not
presented as part of, the Loan Estimate.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
Page 12 of 26
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Field ID
(f)(1)
Name of Field
Origination Charges
Requirement
An itemization of each amount, and a subtotal of all such amounts, that the borrower will pay
to each lender and broker for the loan. The number of items disclosed cannot exceed 13 addendums may not be used. If the lender has more than 13 charges, the remaining charges
must be disclosed as an aggregate amount in the last line permitted, labeled ‘‘Additional
Charges.’’

Enter all origination charges individually with a description of the fee, rounded to the
nearest whole dollar and in alphabetical order
o Includes charges paid to lender and broker
o Do not include compensation paid by a lender to the mortgage broker

Enter the points the borrower is paying to the lender to reduce the interest rate as both
a percentage of the amount and a dollar amount, rounded to the nearest whole dollar
and using the label ‘‘__% of Loan Amount (Points).’’ Points are always listed first.
o If points to reduce the interest rate are not paid, the fields must be blank

Compensation paid directly by the borrower to the broker must be itemized individually
but in alphabetical order rounded to the nearest whole dollar

Loan level pricing adjustments charged by the lender as a fee to the borrower must be
itemized individually but in alphabetical order rounded to the nearest whole dollar
Fixed Rate Example Purchase Transaction
(f)(2)
Services You
Cannot Shop For
An itemization of each amount, and a subtotal of all such amounts, the borrower will pay for
settlement services for which the borrower cannot shop and that are provided by persons
other than the lender or broker. The number of items disclosed cannot exceed 13 addendums may not be used. If the lender has more than 13 charges, the remaining charges
must be disclosed as an aggregate amount in the last line permitted, labeled ‘‘Additional
Charges.’’
The word “Title” must appear at the beginning of the fee description for any service that is a
component of title insurance or is for conducting the closing. These may include, but are not
limited to,

examination and evaluation of title evidence to determine the insurability of the
title being examined and what items to include or exclude in any title commitment
and policy to be issued

preparation and issuance of the title commitment or other document that discloses
the status of title, identifies the conditions that must be met before the policy will
be issued, and obligates the insurer to issue a policy of title insurance if such
conditions are met

resolution of title underwriting issues and taking steps needed to satisfy any
conditions for the issuance of title insurance policies

preparation and issuance of the title insurance policies, and

payment of premiums for any lender’s title insurance coverage
The amount of the premium for the lender’s title insurance coverage must be disclosed
without any adjustment to the premium that might be made for the simultaneous purchase
of an owner’s title insurance policy.
All fees must be rounded to the nearest whole dollar and appear in alphabetical order
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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(f)(3)
Services You Can
Shop For
Examples of services the borrower cannot shop for may include, and are not limited to,
appraisal fees, credit report fees, flood determination fee, VA or USDA guarantee fee,
homeowner’s association fees, lender’s attorney fee, tax status search fee, third-party
subordination fee, title-closing protection letter fee, title-lender’s title insurance policy, and
upfront MI
An itemization of each amount, and a subtotal of all such amounts, the borrower will pay for
settlement services for which the borrower can shop and that are provided by persons other
than the lender or broker. The number of items disclosed cannot exceed 14 - addendums
may be used.
If the lender is not able to itemize all of the charges required to be disclosed in the number of
lines provide, the remaining charges must be disclosed as follows:

Label the last line permitted with an appropriate reference to an addendum and list
the remaining items on the addendum in; or

Disclose the remaining charges as an aggregate amount in the last line permitted
labeled ‘‘Additional Charges.’’
The word “Title” must appear at the beginning of the fee description for any service that is a
component of title insurance or is for conducting the closing. See examples under Services
you cannot shop for above.
All fees must be rounded to the nearest whole dollar and appear in alphabetical order
Note: A lender permits an borrower to shop for an item if the lender permits the borrower to
select the provider of that item, by providing a written settlement service provider list at time
of the initial Loan Estimate.
(f)(4)
Total Loan Costs
(A+B+C)
Examples of services the borrower cannot shop for may include, and are not limited to, pest
inspection fee, survey fee, title-closing agent fee, and title-closing protection letter fee.
The sum of the subtotals disclosed under Origination Charges, Services You Cannot Shop For,
and Services You Can shop For.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Closing Costs Details – continued
Instructions to complete the Other Costs section on Page 2
Other Costs represents all costs associated with the transaction that are in addition to the costs disclosed Loan Costs previously
disclosed in this section.

The items listed as loan costs pursuant must be labeled using terminology that describes each item.

All fees in Taxes and Other Government Fees, Prepaids, Initial Escrow Payment at Closing sections must be listed in the order
prescribed

All other fees/services must be listed in alphabetical order

Addendums to the forms are not permitted unless expressly stated. If not all fees can be itemized the remaining fees will be
disclosed as an aggregate amount in the last line labeled “Additional Charges”
Field ID
(g)(1)
Name of Field
Taxes and Other
Government Fees
Requirement
The amounts to be paid to State and local governments for taxes and other government
fees, and the subtotal of all such amounts, as follows:

Recording Fees and Other Taxes: Enter the sum of all recording fees and other
government fees and taxes, except for transfer taxes paid by the borrower, rounded
to the nearest whole dollar

Transfer Taxes: Enter the sum of all transfer taxes paid by the borrower, rounded to
the nearest whole dollar
o Disclose only Transfer Taxes paid by the borrower. Who pays the transfer
tax is based on applicable State or local law. For example:

If a State law indicates a lien can attach to the borrower’s
acquired property if the charge is not paid, the amount is
included as part of Transfer Taxes;

If State or local law is unclear or does not specifically attribute the
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amount to the seller or borrower, disclose the amount
apportioned to the borrower using common practice in the
locality of the property.
o Transfer taxes to be paid by the seller are not disclosed on the Loan
Estimate as Transfer Taxes.
o Refer to the purchase contract to determine what the seller may be paying
in transfer taxes on behalf of the borrower. If the purchase contract has
not been received, the lender must use the apportionment of transfer taxes
provided for by State or local law, or common practice.
If an amount required to be disclosed is not charged to the borrower, leave the field(s)
blank.
All fees must be rounded to the nearest whole dollar and appear in alphabetical order
(g)(2)
Prepaids
An itemization of the amounts to be paid by the borrower in advance of the first
scheduled payment, and the subtotal of all such amounts, as follows:

Homeowner’s Insurance Premium (___months): Enter the number of months for
which homeowner’s insurance premiums are to be paid by the borrower at
consummation and the total dollar amount to be paid at consummation, rounded to
the nearest whole dollar.

Mortgage Insurance Premium (___months): Enter the number of months for which
mortgage insurance premiums are to be paid by the borrower at consummation and
the total dollar amount to be paid by the borrower at consummation, rounded to the
nearest whole dollar.

Prepaid Interest ( __per day for ___days @___%): Enter the amount of prepaid
interest to be paid per day, the number of days for which prepaid interest will be
collected, the interest rate, and the total dollar amount to be paid by the borrower at
consummation for such interest. Do not round

Property Taxes (___months): Enter the number of months for which property taxes
are to be paid by the borrower at consummation and the total dollar amount to be
paid by the borrower at consummation, rounded to the nearest whole dollar
If an amount is not charged to the borrower, leave field(s) blank.
A maximum of three (3) additional items may be disclosed in this section and each
additional item must be identified and include the applicable time period covered by the
amount to be paid by the borrower at consummation and the total amount to be paid.
All fees must be rounded to the nearest whole dollar and appear in alphabetical order,
which the exception of Prepaid Interest which is not round
(g)(3)
Initial Escrow
Payment at Closing
An itemization of the amounts the borrower will be expected to place into a reserve or
escrow account at consummation to be applied to recurring periodic charges, and the
subtotal of all such amounts, as follows:

Homeowner’s Insurance (___ per month for ___) mo.: Enter the amount escrowed
per month, the number of months covered by an escrowed amount collected at
consummation, and the total amount to be paid into the escrow account by the
borrower at consummation for homeowner’s insurance premiums.

Mortgage Insurance (___ per month for ___) mo.:. Enter the amount escrowed per
month, the number of months covered by an escrowed amount collected at
consummation, and the total amount to be paid into the escrow account by the
borrower at consummation for mortgage insurance premiums
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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
Property Taxes (___ per month for ___) mo.: Enter the amount escrowed per
month, the number of months covered by an escrowed amount collected at
consummation, and the total amount to be paid into the escrow account by the
borrower at consummation for property taxes.
If an amount is not charged to the borrower for any item, leave the fields(s) blank.
All fees must appear in alphabetical order, individual monthly fees use cents, total round
to nearest whole dollar
A maximum of five (5) items may be disclosed and each such additional item must be
identified with a descriptive label and include the applicable amount per month, the
number of months collected at consummation, and the total amount to be paid.
(g)(4)
Other
An itemization of any other amounts in connection with the transaction that the borrower
is likely to pay or has contracted with a person other than the lender or broker to pay at
closing and of which the lender is aware at the time of issuing the Loan Estimate, a
descriptive label of each such amount, and the subtotal of all such amounts. The number
of items disclosed cannot exceed five (5).
Other includes for example:

Commissions of real estate brokers or agents,

Additional payments to the seller to purchase personal property pursuant to the
contract of sale,

Homeowner’s association and condominium charges associated with the
transfer of ownership, and

Fees for inspections not required by the lender but paid by the borrower
pursuant to the contract of sale.
The word “Title” must appear at the beginning of the fee description for any service that is
a component of title insurance.
All fees must be rounded to the nearest whole dollar and appear in alphabetical order
The parenthetical description ‘‘(optional)’’ shall appear at the end of the label for items
disclosing any premiums paid for separate insurance, warranty, guarantee, or eventcoverage products
(g)(5)
Total Other Costs
(E+F+G+H)
The sum of the subtotals disclosed under Taxes and Government Fees, Prepaids, Initial
Escrow Payment at Closing, and Other.
All fees must be rounded to the nearest whole dollar
(g)(6)
Total Closing Costs
D+I
Lender Credits
The component amounts and their sum, as follows:


The sum of the amounts disclosed as loan costs and other costs “D. Total Loan Costs
(A+B+C)” and I” I. Total Other Costs (E+F+G+H)”
The amount of any lender credits, disclosed as a negative number with the label
‘‘Lender Credits.’’
o If there are no lender credits leave this field blank.
o The lender should ensure that Lender Credits are sufficient to cover
the estimated items the lender represented to the borrower as not
being paid by the borrower at consummation, regardless of whether
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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such representations pertained to specific items.
All fees must be rounded to the nearest whole dollar and appear in alphabetical order
Closing Cost Details – Calculating Cash to Close
Instructions to complete the Calculating Cash to Close section on Page 2
Field ID
(h)(1)
Name of Field
Calculating Cash to
Close
Requirement
All Transactions: Enter the total amount of cash or other funds that must be provided by
the borrower at consummation, with an itemization of that amount into the following
component amounts.
Total Closing Costs

Enter the amount disclosed in “J. Total Closing Costs” section as a positive number
rounded to the nearest whole dollar
Closing Costs Financed

Enter the amount of any closing costs to be paid out of loan proceeds, disclosed as a
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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negative number, rounded to the nearest whole dollar
o If the amount is a positive number and the amount does not exceed the
amount of the lender credit, then enter that amount as a negative number,
rounded to the nearest whole dollar
o If the amount is zero or negative number, then enter $0
Down Payment/ Funds from Borrower

Purchase transaction: Enter the amount of the difference between the purchase
price of the property and the principal amount of the loan, disclosed as a positive
number, rounded to the nearest whole dollar
o If the loan amount exceeds the purchase price, enter $0.

All other transactions: Subtract the principal amount of the loan (excluding any
amount disclosed as Closing Costs Financed (Paid form Your Loan Amount) from the
total amount of all existing debt being satisfied in the transaction.
o If the amount is positive, then enter this amount as the Down Payment,
rounded to the nearest whole dollar
o If the amount is negative or $0, then enter $0 as the Down Payment
Deposit

Purchase transaction: Enter the amount that is paid to the seller or held in trust or
escrow by an attorney or other party under the terms of the agreement for the sale
of the property, disclosed as a negative number, rounded to the nearest whole dollar

All other transactions: Enter the amount of $0.
Funds to Borrower

Purchase Transaction: Enter $0

All other transaction: Subtract the principal amount of the debt (excluding any
amount disclosed as Closing Costs Financed (Paid from Your Loan Amount) from the
total of all existing debt being satisfied in the transaction.
o If the amount is negative, the enter that amount as a positive number,
rounded to the nearest whole dollar
o If the amount is position or $0, enter $0
Seller Credits

Enter the total amount the seller will pay for items included in the Loan Costs and
Other Costs tables. Enter as a negative number, rounded to the nearest whole dollar
Adjustments and Other Credits

Enter the amount of all items in the Loan Costs and Other Costs tables that are paid
by persons other than the broker, lender, borrower, or seller, together with any other
amounts that are required to be paid by the borrower at closing pursuant to a
purchase and sale contract, disclosed as a negative number, rounded to the nearest
whole dollar
Examples of items paid by personas other than the broker, lender, borrower or seller
include:
o Gifts from family members
o Credits from developers or home builder to be applied to items in the Loan
Costs, and Other Costs table
Adjustments and other credits includes funds provided to the borrower from the
proceeds of subordinate financings, local or State housing assistance grants, or other
similar sources.
Examples of amounts to be paid by the borrower at closing pursuant to the purchase
contact include”
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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o
o
o
Charges for personal property to be acquired by the borrower
Proration’s for property taxes
Proration’s for homeowner’s association dues
Adjustments for credits are reduced by the amount of any such additional charges

(h)(2)
Optional
alternative
calculating cash to
close table for
refinance
transactions
Estimated Cash to Close: The sum of the seven (7) other amounts disclosed under the
Estimated Cash to Close table, rounded to the nearest whole dollar
The lender may use an alternative separate table for transactions that do not involve a
seller (refinance transactions).
The total amount of cash or other funds that must be provided by the borrower at
consummation with an itemization of that amount into the following component
amounts:

Loan Amount: Enter the loan amount from Page 1

Total Closing Costs: Enter the amount from “J. Total Closing Costs”

Estimated Total Payoffs and Payments: The total amount to be paid to third parties
NOT disclosed as items in the Loan Costs or Other Costs tables, disclosed as a
negative number.


Examples of Payoffs and Payments not disclosed can include:
o Payoffs of existing liens secured by the property such as mortgages, deeds,
of trust, judgments that have attached to the property
o Mechanics and materialmans’ liens
o Local, State, and Federal tax liens
o Payments of unsecured outstanding debts of the borrowers
o Payments to third parties for outstanding debts of the borrower as required
to be paid as a condition for the loan
Estimated Cash to Close from or to Borrower: The sum total of the amounts
disclosed as the Loan Amount, Total Closing Costs, and Payoffs and Payments,
rounded to the nearest dollar. Select the appropriate check box is cash either due or
owed by the borrower at consummation.
Estimated Closing Costs Financed: The sum of Loan Amount and Payoffs and
Payments, if the amount is greater than zero and less than or equal to the Total
Closing Costs.
Examples:
o If the Loan Amount is $100,000, the Payoffs and Payments is-$80,000, and
the Total Closing Costs is $10,000, then the Closing Costs Financed equals
$10,000
o If the Loan Amount is $100,000, the Payoffs and Payments is-$95,000, and
the Total Closing Costs is $10,000, then the Closing Costs Financed equals
$5,000
o If the Loan Amount is $100,000, the Payoffs and Payments is-$110,000, and
the Total Closing Costs is $10,000, then the Closing Costs Financed equals
$0
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Closing Cost Details - continued
Instructions to complete the Adjustable Payment (AP) Table on Page 2
If the periodic P&I payment may change after consummation but not based on an adjustment to the interest rate, or if the transaction
is a seasonal payment product, an ‘‘Adjustable Payment (AP) Table’’ that contains the following information and satisfies the following
requirements is required.
Field ID
Name of Field
Requirement
(i)(1)
Interest Only
Enter a “YES” if there are any interest only payments and the period they would apply
Payments?
(i)(2)
(i)(3)
Optional Payments
Enter a “No”
Step Payments?
IMC does not permit optional payments, i.e. , biweekly payments, and Payment Option
ARMs.
Enter a “No”
IMC does not make or purchase Step loans.
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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(i)(4)
Seasonal
Payments?
(i)(5)
Monthly Principal
and Interest
Payments
Enter a “No”
IMC does not allow seasonal payments.

First Change/Amount: Enter the number of the payment that may change, counting
from the first periodic payment due after consummation, and the amount or range of
the periodic principal payment and interest payment, rounded to the nearest whole
dollar

Subsequent Changes: Enter the frequency of the subsequent changes to the periodic
payment.

Maximum Payment: Enter the maximum payment that may be paid during the life of
the loan, rounded to the nearest whole dollar, with the number of the first periodic
P&I payment that can reach that amount.
Instructions to complete the Adjustable Interest Rate (AIR) Table on Page 2
If the interest rate may increase after consummation, a separate table, the ‘‘Adjustable Interest Rate (AIR) Table,’’ that contains the
following information and satisfies the following requirements is required
(j)(1)
Index + Margin
If the interest rate may, enter the index upon which the adjustments to the interest rate
are based and the margin that is added to the index to determine the interest rate.
If the margin is a whole number truncate the decimal point. Examples
4.00% = 4%
4.5% = 4.50%
Maximum is 3 decimal places
(j)(2)
(j)(3)
Initial Interest Rate
Intentionally Left Blank
Enter the interest rate at consummation
If the interest rate is a whole number truncate the decimal point. Examples
4.00% = 4%
4.5% = 4.50%
Maximum is 3 decimal places
(j)(4)
Minimum/
Maximum Interest
Rate
Enter the minimum and maximum interest rates for the loan, after any introductory
period expires
If the interest rate is a whole number truncate the decimal point. Examples
4.00% = 4%
4.5% = 4.50%
Maximum is 3 decimal places
(j)(5)
Change Frequency


(j)(6)
Limits on Interest
Rate Changes


First Change: Enter the month when the interest rate after consummation may first
change, calculated from the date interest for the first scheduled periodic payment
begins to accrue
Subsequent Changes: Enter the frequency of interest rate adjustments after the
initial adjustment to the interest rate
First Change: Enter the maximum possible change for the first adjustment of the
interest rate after consummation
Subsequent Changes: Enter the maximum possible change for subsequent
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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adjustments of the interest rate after consummation
If the change on interest rate is a whole number truncate the decimal point. Examples
4.00% = 4%
4.5% = 4.50%
Maximum is 3 decimal places
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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LOAN ESTIMATE
PAGE 3
Contact Information Section
Instructions to complete the Contact Information section on Page 3
Field ID
(k)(1)
Name of Field
LENDER
NMLS/ LICENSE ID
MORTGAGE
BROKER
NMLS/ LICENSE ID
(k)(2)
(k)(3)
LOAN OFFICER
NMLS/ LICENSE ID
EMAIL
PHONE
Requirement
Lender Name and NMLS: Enter the name and NMLS
Mortgage Broker Name and NMLS: If a wholesale transaction, then enter the name and
NMLS
If lender or the mortgage broker has not been assigned an NMLS ID, enter the license
number or other unique identifier issued by the applicable jurisdiction or regulating body
with which the lender or mortgage broker is licensed and/or registered, with the
abbreviation for the State of the applicable jurisdiction or regulatory body stated before
the word ‘‘License.”
Enter the name and NMLSR ID of the individual loan officer and ‘‘NMLS ID/License ID,’’ of
the lender and the mortgage broker, if any, who is the primary contact for the borrower.
If lender or the mortgage broker has not been assigned an NMLS ID, enter the license
number or other unique identifier issued by the applicable jurisdiction or regulating body
with which the lender or mortgage broker is licensed and/or registered, with the
abbreviation for the State of the applicable jurisdiction or regulatory body stated before
the word ‘‘License.”
Enter the email address and telephone number of the loan officer
Comparison Section
Instructions to complete the Comparisons section on Page 3
Field ID
(l)(1)
Name of Field
In 5 Years


Requirement
Enter the total principal, interest, mortgage insurance, and loan costs scheduled to be
paid through the end of the 60th month after the due date of the first periodic
payment, expressed as a dollar amount, along with the statement ‘‘Total you will
have paid in principal, interest, mortgage insurance, and loan costs’’
Enter the principal scheduled to be paid through the end of the 60th month after the
due date of the first periodic payment, expressed as a dollar amount, along with the
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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statement ‘‘Principal you will have paid off.’’
Example Fixed Rate Transaction
Example IO ARM Transaction
(l)(2)
Annual Percentage
Rate (APR)
Enter the ‘‘Annual Percentage Rate,’’ using that term and the abbreviation ‘‘APR’’ and
expressed as a percentage, and the following statement: ‘‘Your costs over the loan term
expressed as a rate. This is not your interest rate.’’
If the APR is a whole number truncate the decimal point. Examples
4.00% = 4%
4.50% = 4.500%
4.555% = 4.555%
Disclose up to three (3) decimal places
(l)(3)
Total Interest
Percentage (TIP)
Enter the total amount of interest that the borrower will pay over the life of the loan,
expressed as a percentage of the loan amount, using the term ‘‘Total Interest
Percentage,’’ the abbreviation ‘‘TIP,’’ and the statement ‘‘The total amount of interest
that you will pay over the loan term as a percentage of your loan amount.’’
If the TIP is a whole number truncate the decimal point. Examples
4.00% = 4%
4.5% = 4.50%
Maximum is 3 decimal places
Other Considerations Section
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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Instructions to complete the Comparisons section on Page 3
Field ID
(m)(1)
(m)(2)
Name of Field
Appraisal
Assumption
Requirement
Provides the appraisal disclosure pursuant to ECOA/Regulation B
Provides a statement of whether a subsequent purchaser of the property may be
permitted to assume the remaining loan obligation on its original terms
(m)(3)
Homeowner’s
Insurance
Provides a statement that homeowner’s insurance is required on the property and that
the borrower may choose the insurance provider
(m)(4)
Late Payment
Provides a statement detailing any charge that may be imposed for a late payment, stated
as a dollar amount or percentage charge of the late payment amount, and the number of
days that a payment must be late to trigger the late payment fee

(m)(5)
Refinance
(m)(6)
Servicing
Enter the dollar amount or percentage and the number of days
Provides the statement “Refinancing this loan will depend on your future financial
situation, the property value, and market conditions. You may not be able to refinance this
loan.’’
Provides a statement of whether the lender intends to service the loan or transfer the loan
to another servicer.
Check the applicable box:
(m)(7)
Liability After
Foreclosure
Refinance Transaction only: A brief statement that certain State law protections against
liability for any deficiency after foreclosure may be lost, the potential consequences of the
loss of such protections, and a statement that the applicable should consult an attorney
for additional information.
Instructions to complete the Confirm Receipt section on Page 3
Field ID
(n)(1)
Name of Field
Signature
Statement
Requirement
At the lender’s option, signature line may be added to the form. If the signature line is
added, following disclosure must appear above the signature line: ‘‘By signing, you are
only confirming that you have received this form. You do not have to accept this loan
because you have signed or received this form.’’
If no signature line is used following disclosure must appear under the heading ‘‘Other
Considerations’’ required by section (m) above, labeled ‘‘Loan Acceptance’’: ‘‘You do not
have to accept this loan because you have received this form or signed a loan application.’’
Compliance: TILA-RESPA Integrated Disclosures (TRID) §1026.37
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