Mortgage Loans: The Closing Disclosures

Recorded: August 15, 2024
Presented by: Kylee Durbin, CRCM, Manager, Forvis Mazars, LLP

A two-hour webinar that reviews the disclosures that are provided near or at the end of the application process.

Financial institutions are required to provide numerous disclosures throughout the application process – some disclosures are required to be provided at application or within a few days, while others are provided nearer to the time of closing.

This webinar will focus on the Federal lending compliance disclosures that, depending on the circumstances, may be provided within a week or so before and at closing for mortgage loans. We will discuss their significance and when these disclosures are required to be provided.

HERE IS WHAT YOU WILL LEARN:

The timing and significance of:

• Quick review of HPML/High Cost Determinations
• FCRA Negative Information
• 4-business days before closing – the Revised LE
• 3-business day before closing disclosures and other information
  • Closing Disclosure / Corrected CD (in certain circumstances)
  • Appraisal
  • High Cost Notice
• Flood requirements, including evidence of flood insurance
• At Closing
  • Corrected CD
  • Initial escrow statement
  • Right of rescission
  • Sale of Insurance
  • Servicing transfer notice
  • PMI