LodeStar as a default on Purchases that require both a Lender's and Owner's policy, uses the CFPB method of disclosure mandated for the TRID forms.
Depending on the state, you may want to disclose using the "Seller Paid method", where the full Owner's Premium is paid by the seller.
We are able to support this, but as this is not CFPB standard, we do not recommend using this method to disclose on the Loan Estimate and Closing Disclosure forms.
Please see below how the two methods are calculated.
CFPB Method of Disclosure:
- Owner's Policy + Simultaneous Issue - Loan Policy = Owners Policy
- Loan Policy = Full Loan Policy
- Full Owner's Policy = Owner's Policy (Paid by Seller)
- Loan Policy = Simultaneous Issue Fee