Important TRID Updates
In November 2015, Minnesota Housing temporarily allowed lenders to charge a nominal fee to facilitate compliant disclosure of Deferred Payment Loans.
Effective for all loans originated on or after January 1, 2018, Minnesota Housing prohibits lenders from charging fees to the borrower other than standard recording fees, conservation fund fees, and transfer taxes/fees on downpayment and closing cost loans.
A servicing fee of $175 is still required on Monthly Payment Loans.