The NEW Closing Disclosure will be required for any consumer purpose closed end secured by dirt. August 1st is right around the corner, are you ready? Join us for section-by-section step-by-step instructions on how to complete the NEW Closing Disclosure. We'll cover what you MUST, may, and may not do in relation to completing the form. We'll also talk tolerances and changed circumstances.
The NEW Closing Disclosure will be required for any consumer purpose loan secured by dirt. August 1st is right around the corner, are you ready? Join us for section-by-section step-by-step instructions on how to complete the NEW Closing Disclosure. We'll cover what you MUST, may, and may not do in relation to completing the form. You can be sure all the hot topic areas will be covered in depth and in PLAIN ENGLISH! For example:
- What dates go where? Yes time zones too.
- Property securing the loan drives several of the disclosures within the Closing Disclosure. Do you know which ones?
- Sale price versus property value, which one do we use and when? Property, property, property!
- We'll explain how to describe your products and disclose your loan terms.
- There's a lot going on in the Projected Payment section we'll break it down so you can explain it to the customer.
- Closing Cost Details, we'll cover each section from A - J, Calculate Cash to Close and provide clarity to the Summaries of Transactions section. And yes, tolerances too!
- Signature lines, yes or no? We'll explain the pros and cons.
- You can be sure all the other Closing Disclosure disclosures will be covered as well.
- We've got the when, where, and how of changed circumstances covered too.